Key Indicators to Watch:
- Weekly 50 EMA: ₹605 – A strong long-term support level. The price remains well above this, indicating a sustained bullish trend.
- Daily 50 EMA: ₹736 – Medium-term support. A key level to watch for any pullbacks or corrections.
- Weekly 10 EMA: ₹745 – Immediate weekly support, offering a clear level for trend continuation.
- Daily 10 EMA: ₹792 – The near-term support on the daily chart; holding this level is crucial for continued upward momentum.
- 75-min Chart:
- 50 EMA: ₹786 – This EMA offers intraday support, crucial for short-term traders.
- 21 EMA: ₹816 – Further intraday support, maintaining strength at this level keeps the bullish sentiment intact.
- 10 EMA: ₹840 – Immediate short-term support in intraday action.
Key Resistance Levels:
- 52-Week High: ₹874.70 – A breakout above this significant level could lead to a fresh rally with further upside potential.
- ₹846 – Short-term resistance that aligns with 75-min 10 EMA, a key test for continued bullish momentum.
- ₹875-₹900 – If the stock breaks its 52-week high, we may see this range as the next target zone.
Support Levels to Watch:
- ₹756 – Short-term support level; a strong dip-buying opportunity if prices pull back to this region.
- ₹786 – A key support level on the 75-minute 50 EMA; holding this strengthens the upward move.
- ₹816 – The 75-minute 21 EMA provides a solid intraday support level.
- ₹846 – A critical near-term support zone that should hold for the continuation of bullish movement.
Outlook:
Conclusion:
With CGPower's upward momentum intact and strong support from its EMAs, it remains in a bullish trajectory. Monitoring price action near ₹756, ₹786, ₹816, and ₹874 is essential for confirming continued strength.
Disclaimer: I am not a SEBI Registered Research Analyst (RA). This analysis is for educational purposes only and should not be considered as investment advice. Please conduct your own research or consult a financial advisor before making any trading decisions.
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