Power Grid stock was trading 1.2 percent lower in the early trades. Power Grid is currently trading very close to its yearly lows and we could see further decline. However, there is a high chance of recovery trades at lower levels and Power Grid could easily cross Rs 280 on the higher side. Market sentiment is currently cautious but the moment we see positive sentiment, majority of PSU Stocks will jump.

Stock Performance Overview

As of February 25, 2025, PGCIL's stock metrics are as follows:

These figures underscore PGCIL's robust market presence and the stock's oscillation within its annual range.

Technical Analysis

1. Candlestick Patterns

A scrutiny of PGCIL's daily candlestick charts reveals:

Recent Pattern: The emergence of a Bearish Engulfing pattern indicates potential downward momentum, reflecting seller dominance.

Historical Trends: Previous formations of Doji patterns have signaled market indecision, often preceding trend reversals.

2. Fibonacci Retracement Levels

Applying Fibonacci retracement from the 52-week low of ₹252.20 to the high of ₹366.25 identifies critical levels:

23.6% Retracement: ₹338.12

38.2% Retracement: ₹319.78

50% Retracement: ₹309.23

61.8% Retracement: ₹298.68

76.4% Retracement: ₹280.34

With the current trading price near ₹259.15, the stock is below the 76.4% retracement level, suggesting potential support around ₹280.34.

3. Support and Resistance Levels

Key price points include:

Immediate Support: ₹257.03 – Breaching this may signal further declines.

Immediate Resistance: ₹261.58 – Surpassing this could indicate upward momentum.

Actionable Insights

Bullish Scenario: Maintaining above the ₹257.03 support and breaking through the ₹261.58 resistance may target the ₹280.34 Fibonacci level.

Bearish Scenario: Falling below ₹257.03 could lead to further downside, with the next support around ₹252.20.

Investors should monitor trading volumes and broader market conditions, as these factors can significantly influence price trajectories.