Crompton Greaves Consumer Electricals (₹321.7)

Yoganand D BL Research Bureau | Updated on December 01, 2020 Published on December 02, 2020

Investors with a short term perspective can buy the stock of Crompton Greaves Consumer Electricals at current levels. The stock has been on a long-term uptrend since it took support at ₹180 in late March this year. Medium as well as short-term trends are up. During the uptrend, the stock has surpassed a key long-term resistance at ₹290 in late October and began to move sideways with an upward bias.

On Tuesday, the stock jumped 5.4 per cent with above average volume, breaking above a key resistance at ₹309. The recent up-move has strengthened the long-term uptrend of the stock. It trades well above the 21- and 50-day moving averages. Both the daily and the weekly relative strength indices are featuring in the bullish zone. Besides, the daily and the weekly price rate of change indicators are hovering in the positive terrain implying buying interest.

The short-term outlook is bullish. The stock can continue to trend upwards and reach the price targets ₹335 and ₹342 in the upcoming trading sessions. Trader with a short term view can buy the stock with a stop-loss at ₹315. (Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)

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Published on December 02, 2020
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