Top Trending Stock: Share of this company remains in top trending, today there was a jump of more than 4 percent, know the targets – cgpower share remains in top trending know details
Mumbai: The ups and downs in the stock market continues. However, despite the fall in the market, there are many stocks, which continue to remain on the green mark. These stocks are seeing a boom. One such stock is of CGPOWER. Multibagger stock CGPOWER saw a jump of over 4 per cent during the early hours of the trading session on Tuesday. Buying of investors is being seen in the stock. The stock has touched its new all-time high of Rs 318.40 on NSE. Volume has been above average and the stock is displaying strong buying activity. The company is primarily engaged in the design and manufacture of electrical equipment. The company has reported a 14.47% increase in revenue in Q3 FY23 to Rs 1775.44 crore.
Technically, the stock registered a strong price volume breakout from its consolidation pattern with decent volumes. The positive price structure as per the 14-period daily RSI (68.02) is a bullish signal for the stock. The MACD has indicated a bullish crossover, while the rising OBV has also indicated strong volumetric strength. Relative strength is above zero, indicating relative outperformance against the broad market. In the last one year, the stock has given more than 75% return to its shareholders. Traders can add this stock to their portfolio in the coming times. This article is powered by Dalal Street Investment Journal, India’s No. 1 Investment Magazine. Click here to get regular updates about Winning Stocks and Recommendations.
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