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Technicalsetup

PFC: Bullish Breakout with Raghanseda Project Development 1.Chart Pattern: 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.
NSE:PFCLong
by AngshumanSaikia