CG Power: Range breakout on back of expected good QTR Numbers

Jan 5

CGPOWER - Technical Analysis Update 🚀📊

Current Price: ₹479.65 (as of Jan 5, 2024, 12:08 PM)

Key Indicators:

• Opening Price: Above critical level of ₹469.75, indicating a positive trend 🟢
  
• Moving Averages: Recent bullish crossover in EMA and MA
  
• MACD: Anticipated crossover in next 1-2 days; Current MACD at 6.85, Signal at 7.82
  
• Stochastic RSI: Recovery from oversold, K at 61.25, D at 33.09
  
• %R: -31.76, still below upper band
  
• Fisher Transform: Positive crossover at 0.08 (Fisher), -0.37 (Trigger)
  

Market Outlook:

Positive momentum observed, with a break in the short-term price range.
Bullish signals from moving average and MACD crossovers.

Trading Targets:

First Target: ₹488.50 🎯
Second Target: ₹503.55 🎯

Caution:

STOP LOSS: exit around ₹461.55 - ₹461.80 (0.382 Fibonacci level).
Monitor closely for sustaining the upside movement. ⛔

Conclusion:
CG Power shows strong potential for growth, with key indicators pointing towards a bullish trend. Ideal for investors looking at short to mid-term gains. Stay vigilant and trade smartly! 🌟⚡


Disclaimer:

• Informational Purpose: This analysis is for informational purposes and does not constitute financial advice.
  
• No Guarantee: The accuracy or completeness of the information is not guaranteed.
  
• Investment Risks: Stock market investments are subject to market risks, including the loss of principal.
  
• Independent Research: Investors should conduct their own research and consult a financial advisor before making investment decisions.
  
• No Responsibility: The author is not liable for any losses or damages arising from the use of this analysis.
  
• Regulatory Compliance: This analysis is not a guarantee against regulatory risks.

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Jan 9

Comment

Maintain the status quo.