Power Grid Breaks Key Resistance, Marico Builds Momentum: SEBI RA Dhruv Tuli Maps Next Targets

Power Grid has broken out of a key trendline, while Marico confirmed a cup and handle formation, both signaling fresh upside potential based on the analyst’s technical call.
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Representative Image: Getty Images
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Deepti Sri·Stocktwits
Updated Jul 02, 2025   |   8:31 PM EDT
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Power Grid Corporation of India and Marico have been highlighted for potential upside after confirming key technical breakouts.

Power Grid Corporation of India

SEBI-registered analyst Dhruv Tuli said Power Grid has broken out of a key trendline on both the daily and monthly charts, mirroring price action last seen in 2021 around ₹120, which was followed by a massive rally. 

The stock is now holding above its 50- and 200-day EMAs, with Fibonacci support near ₹253. 

Tuli noted that a retest has confirmed the bullish structure and sees 20% upside potential, with a target of over ₹360.

In May, Power Grid announced that it had commissioned a fiber optic communication project in the Western Region as part of its Master Communication Plan.

Shares of Power Grid Corp have declined 3.8% so far in 2025.

Marico

On Marico, Tuli said the stock is forming a cup and handle pattern on the daily chart and has broken above the short-term trendline. 

He placed the entry range at ₹720–₹730, with a stop-loss below ₹680, and said a breakout above the previous resistance zone would signal a bullish continuation. 

The analyst advised watching for momentum build-up as long as the stock holds above ₹700. 

The pattern is supported by price action and RSI strength around 63, indicating room for upside, with targets at ₹770 and above ₹800.

Last week, Marico allotted 2,460 equity shares on June 25 under its ESOP 2016 scheme. 

Shares of Marico have risen 11.1% so far this year. 

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