Power Grid Flag Pattern Breakout Setup

Power Grid – Breakout Plan
Watching for a clean move above ₹300 level.
Hourly chart shows Cup & Handle formation, while Daily/Weekly has Flag pattern attempting breakout.

✅ Breakout level: ₹300 (confirmation close needed)
✅ Stop-loss: ₹290–294 (below support / ATR-based)
✅ Target 1: ₹328 (Fibonacci 0.618 – Golden Ratio)
✅ Target 2: ₹375 (Measured Move)

Indicators:

EMAs rising on hourly, steady on daily.

RSI strong but nearing overbought on lower timeframe.

MACD positive momentum.

Watching volume for confirmation.

Macro Drivers:

Government infra spending.

Cooling inflation.

Rising electricity demand in India.

✅ Plan: Wait for confirmed breakout with volume. Strict risk management with pre-defined stop.