Trendline Support in Power grid

On the daily chart, Power Grid has once again tested its long-held trendline support zone near ₹282–284. This level has acted as a reliable demand area in the past, and today’s price action showed another strong reaction.

Price rebounded +3.26% from the support, confirming active buyers at this zone.

In the derivatives segment, the 285 CE (28 Aug 2025 expiry) option also responded sharply, rallying +64% intraday from its recent low.

This confluence between cash price action and option movement highlights the strength of this support zone.

📌 Trading Viewpoint:
As long as the ₹282 level holds, short-term bullish momentum could sustain. A decisive break below, however, would negate this setup and invite further downside.