* On a daily chart, the stock has formed a Hammer Candlestick formation which is a bullish reversal sign and suggests a bull run in the counter.
* On an hourly chart, the stock has given a breakout of its downward sloping trendline which indicates that the stock may go up in coming trading sessions.
* Moreover, the stock has started to trade above its 50 Hourly Exponential Moving Average which shows an upside rally in the counter.
* A daily momentum indicator RSI reading is at 36.87 level with a positive crossover which points out for a positive breath in the stock.
* Based on the above technical structure, we are expecting an upside movement in the counter in few trading sessions.
Buy Crompton Greaves Consumer Electricals Ltd @ 206 Stoploss 196 Target 225
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