HG Infra’s 185 MW Battery Deal Sparks a Revival – What’s Next?

https://preview.redd.it/zsu6qvxm9r8e1.jpg?width=1920&format=pjpg&auto=webp&s=3528991cf2f7baed2f1dab02bc00632bc7076bdc HG Infra's shares rose after its subsidiary, HG Banaskantha Bess, signed an agreement with NTPC Vidyut Vyapar Nigam to procure battery energy storage systems with a capacity of 185 MW/370 MWh. These systems are crucial for storing electricity, especially for renewable energy projects. Let's see if technical support. The stock has been in an uptrend but recently experienced a correction of approximately 32% from its July 2024 high. It is now finding support and rebounding from the 40-week EMA, aligning with the Fibonacci Golden Zone (0.5 to 0.68 levels). Additionally, the stock has broken through a trendline resistance. This move is supported by a weekly RMI buy signal and a flattened Bollinger Band, suggesting the potential for an expansion into a trending move. Currently, the stock is encountering resistance at the ₹1,520 level. To sustain its uptrend, it must decisively break through this resistance level. What is your personal view?