The upmove of CG Power and Industrial Solutions is gaining momentum. The stock has risen over 2 per cent on Tuesday. The region between ₹312 and ₹310 will now act as a good support zone. Below that ₹300 is the next strong support. The chances are high for the stock to sustain well above ₹310 itself now. Intermediate resistance is at ₹330-335. A break above it can take the share price of CG Power up to ₹370 over the next one month.
Traders can go long now. Accumulate on dips at ₹310. Keep the stop-loss at ₹295. Trail the stop-loss up to ₹328 as soon as the stock moves up to ₹338. Move the stop-loss further up to ₹350 when the price touches ₹360. Exit the long positions at ₹365.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)