!weekly Chart Analysis of

CGPOWER

CG Power’s weekly chart highlights a decisive breakout above the consolidation band of ₹650–700, with the stock surging towards ₹785 and closing near the week’s high, reflecting strong follow-through buying interest. The breakout has been accompanied by price action firmly above the 20-day and 50-day EMA, while the long-term moving averages (100 & 200 EMA) remain in a steady uptrend, confirming strength in the broader structure. The Parabolic SAR has flipped below price action, adding to the bullish confirmation. Momentum indicators are also supportive RSI has crossed ~70, suggesting strong positive sentiment, though it also signals the stock has entered overbought territory where short-term volatility or profit-booking can emerge. The MACD line has crossed above the signal line with an expanding histogram, showing fresh upward momentum building after weeks of sideways movement. On the downside, immediate support is placed at ₹730–740 (recent breakout zone), while the next strong cushion is at ₹690 near the EMA cluster, which should act as a demand zone on corrections. On the upside, if the stock sustains above the ₹800–810 resistance zone, the next leg of the rally could extend towards ₹850–870 levels, with scope for further highs if momentum persists. Overall, the technical setup remains bullish with trend confirmation across indicators, though traders should watch for short-term pullbacks due to the sharp run-up and overbought RSI.