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BUZZ-India's Power Grid hits record high; technicals suggest further upside
January 12, 2017 / 6:07 AM / a year ago

BUZZ-India's Power Grid hits record high; technicals suggest further upside

** Power Grid Corporation of India rises as much as 5.24 pct to an all-time high of 199.75 rupees

** The power transmission company's stock cleared a resistance it was facing near 193.3 rupees, the 100 pct Fibonacci projection level of wave 1 reut.rs/2imDykX

** Trend intensity indicator (TI) rises to 15 forming higher lows, indicating a new uptrend

** Price volume trend (PVT) indicator also at record high; which is favorable for the stock

** MACD is positive and above its signal line

** Stock up 32.5 pct in the past year to Wednesday’s close, compared with 10.8 pct gain in the NSE index

RM: gaurav.dogra.thomsonreuters.com@reuters.net

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