CG Power and Industrial Solutions Ltd Stock Forecast
High volatility in CG Power and Industrial Solutions Ltd stock price on Tuesday which ended trading at ₹570.65
(Updated on May 07, 2024)
The CG Power and Industrial Solutions Ltd stock price gained 4.46% on the last trading day (Tuesday, 7th May 2024), rising from ₹546.30 to ₹570.65. During the last trading day the stock fluctuated 10.24% from a day low at ₹530.65 to a day high of ₹585.00. The price has fallen in 5 of the last 10 days but is still up by 6.83% 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, 10 million more shares were traded than the day before. In total, 15 million shares were bought and sold for approximately ₹8.28 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 29.98% during the next 3 months and, with a 90% probability hold a price between ₹692.26 and ₹797.05 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 ₹554.45 and ₹524.92. 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 15.46%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for CG Power and Industrial Solutions Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹541.40 and ₹502.25. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, CG Power and Industrial Solutions Ltd finds support just below today's level at ₹541.40. If this is broken, then the next support from accumulated volume will be at ₹502.25 and ₹465.00.
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 ₹54.35 between high and low, or 10.24%. For the last week, the stock has had daily average volatility of 3.41%.
Our recommended stop-loss: ₹546.89 (-4.16%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 16 days ago.)
Trading Expectations (CGPOWER.NS) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect CG Power and Industrial Solutions Limited to open at ₹562.10, and during the day (based on 14 day Average True Range), to move between ₹552.72 and ₹588.58, which gives a possible trading interval of +/-₹17.93 (+/-3.14%) 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 6.28% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹541.40, some ₹29.25 (5.13%) from the current price of ₹570.65, our system finds the risk reward attractive.
Is CG Power and Industrial Solutions Limited stock A Buy?
CG Power and Industrial Solutions Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for CG Power and Industrial Solutions Limited of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| ₹562.10 ( 1.50%) | ₹570.65 |
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 | 616.45 | 8.03 % | |
| R2 | 595.69 | 4.39 % | ||
| R1 | 582.86 | 2.14 % | ||
| Current price: | 570.65 | |||
| Support | S1 | 541.34 | -5.14 % | |
| S2 | 528.51 | -7.38 % | ||
| S3 | 507.75 | -11.02 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 570.65 | |||
| Support | S1 | 541.40 | -5.13% | |
| S2 | 502.25 | -11.99% | ||
| S3 | 465.00 | -18.51% |
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% |
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