PFC: Bullish Breakout with Raghanseda Project Development
1.Chart Pattern:
2.Fundamental Trigger:
4.Indicators:
5.Projection:
Risk Disclaimer: This is for educational purposes only. Conduct your own research before making any trading decisions.
- The stock has broken out of a downward-sloping trendline after a prolonged consolidation phase within a rectangle pattern (yellow box).
- This breakout is supported by higher volumes, signaling strong buying interest.
2.Fundamental Trigger:
- Power Finance Corporation has incorporated an SPV for the Raghanseda Transmission Project, enhancing its growth outlook.
- 3.Technical Levels:
- Current Price: ₹512.20
- Immediate Support: ₹499.95 (near breakout zone).
- Critical Stop-Loss: ₹472.95 (below previous support).
- Upside Targets: ₹527.45 (minor resistance) and ₹556.00 (major target, ~11% upside potential).
4.Indicators:
- RSI is trending upwards, indicating positive momentum but not overbought.
- Moving averages are aligning for a bullish crossover, supporting further upside.
5.Projection:
- If the price sustains above ₹500, we could witness a rally towards ₹556 in the near term.
- Traders may consider entering on pullbacks near ₹500 with a stop-loss at ₹472.95.
Risk Disclaimer: This is for educational purposes only. Conduct your own research before making any trading decisions.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.