⚡ CG Power Forming a Tight Base: Preparing for a Range Breakout?

🔄 Elliott Wave Perspective CGPOWER is forming a Wave 4 flat correction after a strong Wave 3 uptrend. The consolidation between ₹640–₹700 is building a tight range, typically preceding a Wave 5 breakout. 📉 MACD Signal On the weekly chart, MACD is showing a bullish crossover attempt near the zero-line — a sign of bottoming out with a potential up-move once price clears ₹700 resistance. 📊 AVWAP Support in Play Anchored VWAP from the April swing low is providing dynamic support near ₹543 levels, keeping the long-term bullish structure intact. 📈 Fundamentals to Note ROCE: 20%+, signaling efficient capital use Debt Levels: Significantly reduced over years Order Book: Strong growth in industrial automation and power solutions space 🧠 Learning Insight Sideways consolidation within a broader uptrend, supported by AVWAP and improving MACD, often offers high-reward entries once breakout levels are breached. 📌 Bookmark this for learning setups 🔔 Follow for daily technical-fundamental analysis