Powergrid view on chart-->7th jan 2013

View on Chart: On daily cards, stock is trading at crucial range and is likely to provide break in coming week. Probability to have upside breakout is high and if it holds 112/113 levels, then we can an action towards 117-121-124 levels in coming days. Move below 112 will be considered as breakdown and i such case stock can dip up to 108 or upto 105 levels. In both cases, traders should keep stop loss inside 112-114 range.