CG Power and Industrial Solutions Ltd Stock Forecast
CG Power and Industrial Solutions Ltd stock upgraded to Strong Buy Candidate.
(Updated on Apr 26, 2024)
The CG Power and Industrial Solutions Ltd stock price gained 2.83% on the last trading day (Friday, 26th Apr 2024), rising from ₹542.25 to ₹557.60. During the last trading day the stock fluctuated 4.55% from a day low at ₹539.45 to a day high of ₹564.00. The price has risen in 7 of the last 10 days and is up by 11.13% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately ₹1.99 billion.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 24.29% during the next 3 months and, with a 90% probability hold a price between ₹627.49 and ₹729.23 at the end of this 3-month period.
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CGPOWER.NS Signals & Forecast
The CG Power and Industrial Solutions Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₹539.21 and ₹506.73. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 12, 2024, and so far it has risen 12.82%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for CG Power and Industrial Solutions Ltd stock
CG Power and Industrial Solutions Ltd finds support from accumulated volume at ₹541.40 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹24.55 between high and low, or 4.55%. For the last week, the stock has had daily average volatility of 2.67%.
Our recommended stop-loss: ₹537.75 (-3.56%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (CGPOWER.NS) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect CG Power and Industrial Solutions Limited to open at ₹553.68, and during the day (based on 14 day Average True Range), to move between ₹540.29 and ₹574.91, which gives a possible trading interval of +/-₹17.31 (+/-3.10%) up or down from last closing price. If CG Power and Industrial Solutions Limited takes out the full calculated possible swing range there will be an estimated 6.21% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹541.40, some ₹16.20 (2.91%) from the current price of ₹557.60, our system finds the risk reward attractive.
Earnings coming up
CG Power and Industrial Solutions Limited will release earnings BMO on Friday, April 26, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.59. We will update the financials statements for CG Power and Industrial Solutions Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.76% in the first trading day after earnings release.
Is CG Power and Industrial Solutions Limited stock A Buy?
CG Power and Industrial Solutions Ltd holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.916 Strong Buy Candidate Upgraded
Predicted Opening Price for CG Power and Industrial Solutions Limited of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| ₹553.68 ( 0.702%) | ₹557.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CGPOWER.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 578.23 | 3.70 % | |
| R2 | 568.86 | 2.02 % | ||
| R1 | 563.06 | 0.98 % | ||
| Current price: | 557.60 | |||
| Support | S1 | 544.31 | -2.38 % | |
| S2 | 538.51 | -3.42 % | ||
| S3 | 529.13 | -5.11 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 557.60 | |||
| Support | S1 | 541.40 | -2.91% | |
| S2 | 502.25 | -9.93% | ||
| S3 | 465.00 | -16.61% |
CGPOWER Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 05, 2024 | Feb 05, 2024 | Feb 22, 2024 | ₹1.30 | 0.306% |
| 2 | Mar 15, 2023 | Mar 15, 2023 | Mar 15, 2023 | ₹1.50 | 0.513% |
| 3 | Jan 28, 2015 | Feb 06, 2015 | Feb 18, 2015 | ₹0.400 | 0.671% |
| 4 | Oct 08, 2014 | Oct 22, 2014 | Nov 05, 2014 | ₹0.400 | 0.611% |
| 5 | May 20, 2014 | Jul 30, 2014 | Aug 12, 2014 | ₹0.400 | 0.585% |
FAQ
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