December 17, 2015
Crompton Greaves (NSE Cash)
BUY
` 181
` 189 - 188
` 204
14 - 21 sessions
Daily Chart
Source: Falcon (Chart Time: Dec 17, 2015 - 12:48 IST)
Justification:
The stock is moving in an uptrend by maintaining ‘Higher Highs Higher Lows’ in the daily chart. The stock has
rallied sharply in the November along with huge volumes. In last two weeks, the stock has seen a corrective
price action. Currently, the stock is rebounding after taking support of the ‘Breakout Trendline’, which also
coincides with the 50% retracement level of the entire up move from 164.15 to 202.90 in the daily chart. The
stock is also in verge of giving a breakout from the ‘Diamond’ pattern in the hourly chart. The RSI oscillator is
also turning northwards and showing an initial sign of strength in the daily chart. Thus, we advise traders to
buy this stock at current levels and on declines to ` 188 for a target of ` 204 in coming 14 to 21 trading
sessions. The stop loss for this trade set up can be kept at ` 181.
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December 17, 2015
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Source: Angel Research
Research Team Tel: 022 - 30940000(Extn: 6552) Website: www.angelbroking.com Email: [email protected]
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