Coal India, CG Power, Crompton Greaves in focus; analyst sets CG Power target at Rs 930–950
Three widely held stocks—Coal India, CG Power & Industrial Solutions and Crompton Greaves Consumer Electricals—are likely to be on traders’ radar ahead of Friday’s session, with an analyst flagging bullish technical setups across the board. Vishnu Kant Upadhyay, AVP of Research at Master Capital Services, said Coal India continues to display a strong bullish structure despite a recent pullback from elevated levels.
He noted that a breakout from a bullish flag pattern remains intact, and the ongoing retracement toward the 21-day exponential moving average appears corrective rather than a trend reversal. Declines have seen subdued volumes, suggesting a lack of aggressive distribution, while the stock’s sequence of higher highs and higher lows persists.
Upadhyay added that the relative strength index has eased to around 57, relieving overbought conditions and leaving room for further upside momentum. On CG Power & Industrial Solutions, Upadhyay maintained a buy view with a target range of Rs 930–950 and a stop loss at Rs 810.
The stock delivered a decisive breakout above the Rs 800 resistance after an extended consolidation, then successfully retested that zone, drawing fresh buying and reinforcing the breakout’s validity. Price action is approaching the all-time high near Rs 870, he said, with the move supported by strong volume expansion and the shares trading above key moving averages—features that, in his view, support higher levels.
Crompton Greaves Consumer Electricals has registered a bullish reversal after forming a double bottom near Rs 220, according to Upadhyay. The stock has confirmed the reversal by moving decisively above the Rs 270 resistance, reclaiming short- and long-term moving averages and improving the trend alignment across time frames.
He said the broader structure has turned constructive, with higher highs and higher lows suggesting upward momentum could continue in the sessions ahead. Upadhyay’s technical read points to continued strength if these stocks hold their key support levels, with traders watching whether CG Power can clear its record peak and whether Coal India’s pullback remains orderly within its broader uptrend.