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Published on 12/10/2018 4:34:23 PM | Source: Choice Broking Pvt Ltd

Buy Crompton Greaves Consumer Electricals Ltd For Target Rs.225.00 - Choice Broking

*  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.

 

Recommendation

Buy Crompton Greaves Consumer Electricals Ltd @ 206 Stoploss 196 Target 225

 

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