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Price and trend forecast of POWERGRID for Tomorrow, Weekly, Monthly

Power Grid Corporation of India Limited

Symbol: NSE:POWERGRID

ISIN: INE752E01010

313.15

As on 2024-05-17

190.65 (52W Low) 317.25 (52W High)

POWERGRID's Today's Performance

Power Grid Corporation of India Limited started the day by opening at 314.90 today 2024-05-17. Its shares reached a high of 316.00 and dipped to a low of 310.75 in intraday. When the markets closed, POWERGRID’s stock price settled at ₹313.15 per share. Also check out its key support and resistance levels.

POWERGRID Buy/Sell Targets

Tomorrow, buy POWERGRID when its price reaches ₹ 313.15 with a stop-loss order at ₹ 309.32. You can set the target price as ₹ 316.98 to capture potential gains. This buy position balances the risks and rewards evenly, aiming for a 1:1 risk-reward ratio.

In the sections below, we will discuss detailed share price target of POWERGRID for tomorrow's session along with weekly levels. Please note that these share targets analysis is only valid for tomorrow and the current trading week and month.

Important Down levels for POWERGRID

Downside Targets Value in ₹
Tomorrow Down Target 1 316
Tomorrow Down Target 2 319
Tomorrow Down Target 3 321

Important Levels for POWERGRID

Holding Levels Value in ₹
Tomorrow Up Target 1 311
Tomorrow Up Target 2 308
Tomorrow Up Target 3 305
Based on where the stock opens tomorrow, if POWERGRID opens on a positive note, our first target will be ₹316. If Target 1 is achieved, we will aim for Target 2 which is ₹319.

But if POWERGRID falls below the average value of ₹313.30, you can enter a sell side position with target number 1 - ₹311 and second target - ₹308 This average value also act as support and resistance level. When the stock is trading above the average, it will act like support area. Another important thing is, stocks usually get back to this average value when the price trades too far from avg. In simpler words we can consider the average price as a magnet.

Daily Volume chart of POWERGRID

Looking at POWERGRID, we've seen a Decreasing trend in its trading volume over the past week, which really tells us how active traders have been with this stock.

In terms of its price, POWERGRID has been on a Upward path, giving us insights how its value changes in the market.

Based on this, the predicted sentiment for POWERGRID is moderate bullish.

Tomorrow's Volume based share price Forecast for POWERGRID

POWERGRID's Volume is currently in a Decreasing trend, and Price is in a Upward direction. Therefore, we can say the stock is in a moderate bullish trend. Volume trend strength over the last month compared to the last week is 46%.

Reversal detection for POWERGRID

Predicted trend chart of POWERGRID tomorrow for price forecast
POWERGRID may trend may continue to be bullish since stock is making higher highs and we can get target of ₹311 in morning tomorrow
Target 1 tomorrow315
Target 2 tomorrow317
Target 3 tomorrow319
 

Investferry’s trend analysis method detects short term overbought and oversold situations to identify reversal in stocks. Use this as reference for short term counter trend trades.

Combine this trend forecast with POWERGRID's tomorrow's target prediction and you will have a base for what can be done in the upcoming trading session.

Based on where the stock opens tomorrow, if POWERGRID opens on a positive note, our first target will be ₹315.85. If Target 1 is achieved, we will aim for Target 2 which is ₹318.55.

But if POWERGRID falls below the average value of ₹313.30, you can enter a sell side position with target number 1 - ₹310.60 and second target - ₹308.05

POWERGRID's Weekly Targets
1st Up Target 320.43
2nd Up Target 327.72
1st Down Target 301.73
2nd Down Target 290.32

As the week for POWERGRID ended on bullish sentiments, we can expect further continuation of this sentiment. POWERGRID's initial target will be 320.43 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 301.73 in the upcoming week.

Weekly OHLC Values
Open 304.20
High 316.30
Low 297.60
Close 313.15

Week for POWERGRID started with an open price of 304.20, and the close was at 313.15. POWERGRID reached the highest of 316.30 and dipped lowest up to 297.60 last week. This indicates a bullish sentiment for the week.

POWERGRID full month swing targets
Monthly Up Target 1 339.13
Monthly Up Target 2 346.42
Monthly Down Target 1 283.03
Monthly Down Target 2 252.92

Targets of ₹339.13 can be expected to be reached in the coming month. Once POWERGRID achieved this target, we can aim for the next upside target of ₹346.42.

POWERGRID if fails to hold upside, down targets of ₹283.03 and ₹252.92 can be achieved by end of this month.

For complete three weeks if POWERGRID is bullish, the stock may decline in the last week on the month as traders usually close their positions. So in this case, you should aim for weekly support level which will act as targets here.

Related Stocks in the Same Sector as POWERGRID

Symbol Name Industry
NTPC NTPC Limited Utilities - Regulated Electric
ADANIGREEN Adani Green Energy Limited Utilities - Renewable
POWERGRID Power Grid Corporation of India Limited Utilities - Regulated Electric
ADANIPOWER Adani Power Limited Utilities - Independent Power Producers
TATAPOWER Tata Power Company Limited Utilities - Independent Power Producers

Summary

POWERGRID is expected to reach the target of 315.85 in tomorrow's trading session.

After achieving the initial target in POWERGRID, we will aim for higher targets of 318.55 tomorrow.

However, if POWERGRID starts to trade below ₹313.30, then we will shift our focus to the sell side and aim for down targets of 310.60 and 308.05.