Power Grid – Double Bottom Breakout Structure (Daily Chart)
After a prolonged consolidation and corrective phase, the stock has formed a double bottom near ₹245 zone and is now showing strong bullish momentum with volume expansion.
🔎 Technical Observations:
Clear higher low formation around ₹245Strong breakout candle with heavy volume participation
Price sustaining above 20 EMA
Bollinger Bands expanding → volatility expansion phase
MACD bullish crossover with positive momentum
RSI holding above 60–70 → strength confirmation
🔑 Key Levels to Watch:
Immediate Support: ₹280
Strong Support: ₹270
Breakout Zone: ₹300–₹305
Upside Potential (if sustained): ₹340–₹360
🚀 Sustained close above ₹300–₹305 can trigger continuation move toward higher targets as marked on chart.
Structure currently favors bullish bias unless price slips below ₹270.
⚠️ For educational purposes only. Not a buy/sell recommendation.
— AALGO BREATHS