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.

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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