“CG Power – Testing Resistance at ₹710 ⚡”

📊 Technical Breakdown 1️⃣ Structure: Price currently ₹705, testing a strong horizontal resistance ~₹710–715. This level has acted as supply zone for the past 10 months. 2️⃣ Bullish Case: A weekly close above ₹715 with volumes could trigger a breakout. Next targets → ₹780 → ₹850. 3️⃣ Bearish Case: If rejection continues, price may pull back towards ₹670–650. Strong support at ₹547 (200-week MA). 4️⃣ Volume Action: Noticeable volume spike in the latest candle – positive sign. Confirms accumulation near resistance. 🚦 Learning Angle for Post “When price consolidates under a resistance for long, a breakout (if it comes) is usually powerful.” Traders should wait for confirmation instead of pre-empting.