CGPower : Strong Bullish Momentum: Key Support & Resistance Zone NSE:CGPOWER in Strong Bullish Momentum: Key Support & Resistance Zones
NSE:CGPOWER continues to demonstrate solid upward momentum across multiple timeframes, with positive trends seen on the daily, weekly, and even shorter 75-minute charts. Here's an advanced look at key levels and insights:
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:
NSE:CGPOWER is showing a healthy bullish momentum, with consistent support levels across the daily and weekly charts. Holding above ₹756 and breaking past ₹874.70 could fuel further bullish activity. Watch for pullbacks near support levels for potential buying opportunities. As long as the price holds above its key EMAs, especially the daily and 75-min EMAs, the trend remains strongly positive.
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.
