📈 CG Power & Industrial Solutions Ltd. – Strong Technical Setup Near Resistance

CG Power continues to display structural strength, showing a steady follow-through after a swing breakout and forming a bullish inverse head & shoulders pattern on the weekly timeframe. The stock’s pullback was on declining volume, which typically signals a healthy retracement within an ongoing uptrend. 🔹 Technical Highlights Pattern: Inverse Head & Shoulders (bullish reversal structure) Neckline: ₹790 Resistance Zone: ₹770–₹790 (key breakout level) Support Zone: ₹680–₹700 (previous breakout base) Trendline: Price holding above rising green trendline (long-term support intact). RSI: Turned upward from mid-range, signaling renewed strength — momentum back above 55 with a bullish slope. OBV: Bullish divergence confirms accumulation; volume behavior aligns with breakout setup. Relative Strength (RS): Turning positive vs. benchmark — improving relative performance. 🔹 Interpretation ⚙️ The Stan (Stan Weinstein) breakout with strong volume and follow-through suggests renewed momentum. ⚙️ Price is bouncing off support with improving RSI and OBV, indicating demand resurgence. ⚙️ A weekly close above ₹790 would confirm breakout from the neckline, potentially opening up targets toward ₹880–₹920 in the medium term. ⚠️ On the downside, a sustained close below ₹680 would invalidate this bullish setup. 🟢 View CG Power is showing a textbook bullish continuation setup with improving momentum and volume confirmation. A move past ₹790 could accelerate the uptrend. 📢 Disclaimer: For educational and technical analysis purposes only; not investment advice. 👤 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)