CG Power slips below averages as 840 becomes critical

closed near ₹856 after a weak session that tested ₹840 intraday. The latest candle reflects continued selling pressure after the stock failed to hold the ₹880–₹900 range. Price is below the 20-day average at ₹888 and the 55-day average near ₹882. This moving-average zone has turned into immediate resistance. MACD is below its signal line with a negative histogram, confirming that short-term momentum remains bearish. ₹840 is the crucial support. A sustained break below it can bring ₹820 into focus. On the upside, the stock needs to reclaim ₹882–₹888 before the structure can improve. Industrial capital expenditure, power-equipment orders and execution remain important long-term drivers, but the daily chart is currently corrective.