Buy Crompton Greaves Consumer Electricals Ltd For Target Rs.450 - Religare Broking
* Crompton is among the consistent performer within the consumer electrical pack. In the last leg of the major upswing, it surged almost vertically from the low of 174 to a new record high of 512.8 in September 2021.
* After the sharp surge, it retraced to the major support zone of long term moving average(200 EMA) on the weekly chart and formed a reversal pattern. And, it finally witnessed a breakout from the same in July 2022 and currently forming a higher base while holding firmly above the support zone of major moving averages.
* All indications are in the favour of breakout soon. We thus recommend accumulating in the given range.
Buy Crompton Greaves Consumer Electricals Ltd 401 CE@401-403, STOP LOSS 374, TARGET 450
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