C G PowerCG Power & Industrial Solutions LtdNSE:CGPOWERChartistHubFalling Channel (Bullish Pattern) The stock is currently trading within a descending channel. A breakout above the upper trendline of this channel could indicate a bullish reversal. Support & Demand Zones Discount Zone: Around ₹660–₹680 — strong demand zone, potential area for price reversal. Order Block: Around ₹690 — aligns with historical consolidation and institutional buying. FVG (Fair Value Gap): Between ₹690–₹710 — price may fill this gap before a major move. Immediate Support: ₹720 Next Support: ₹670–₹680 Resistance & Supply Zones Immediate Resistance: ₹760–₹780 (upper channel boundary). Premium Zone: Around ₹820–₹840 — potential target zone after breakout. Volume Analysis Noticeable increase in volume during prior upswings suggests strong institutional participation. Recent declines occurred on lower volume, indicating a healthy correction. 📈 Possible Scenarios Bullish Scenario (High Probability) If price respects the ₹720 support or the discount zone, and forms a bullish candle or breakout above the upper channel: Upside Targets: ₹760 (first target) ₹800–₹820 (second target) ₹840 (final target) Confirmation: Daily candle closing above ₹750–₹760 with volume. Bearish Scenario (Low Probability) If price breaks below ₹680, it may retest the ₹640–₹650 zone. That would invalidate the bullish setup temporarily. 🧭 Trading Plan (for reference only) TypeEntry ZoneStop-LossTarget 1Target 2Target 3Swing Buy₹700–₹720₹670₹760₹800₹840 ⚠️ Conclusion The stock is currently in a correction phase within a bullish structure. Price action suggests a potential reversal from the discount zone leading to a breakout above the falling channel. Confirmation through volume and breakout candle is key before entering long position