PowerGrid –Buy- India Infoline

The stock has been consolidating in a range between the levels of Rs101-107 from last two weeks. On Thursday, the stock attempted to break-out from the upper-end of this trading range.

Moreover, on the daily chart, the stock has formed a Bullish Candlestick suggesting upside from the current levels. The daily RSI is already in strong buy mode. A move above the levels of Rs106.20, i.e. 200-DMA could provide momentum in the stock.

Keeping in mind the above-mentioned evidences, we recommend high risk traders to buy the stock above Rs106.50 with stop loss of Rs103.50 for target of Rs113.

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Tags: Free Share Tips, India Infoline, Power Grid Corporation of India, Power Sector

Category: Broker tips