The technical price chart of Crompton Greaves suggest a double bottom formation of the recent down move.
The price has closed positive today at Rs 272/- ( Apr 22)
The scrip is now ripe to test Rs 290 in the very short term and Rs 330/ in the medium term.
Keep a stoploss at Rs 248 ( for the target of Rs 330).... (Short term traders may keep Stoploss at Rs 258)
Incidentally TTML , RPL and the Sensex targets mentioned in earlier blog posts have performed well ...
Hope you all could take benefit !
Happy Trading
CA Rajiv D Khatlawala
Know more about me at www.pushpdin.com
3 comments:
dear sir...this is abhijit currently pursuing ca n cs......its great to see a CA to be a technical analyst...sir there is query regarding crompton greaves..sir i've taken positn in future 29 may @279 levels currently it is trading at 255 levels....sir should i book loss or i hold to ur tgt....thankyou sir.
This one didn't go as we predicted....I guess it is ok to be not right once a while..:-)
Dear Abhi
If your timeframe was short term when you took the entry, then yes, the Stop has been hit.
Presume the stock still needs 'time' to settle down.
Exitfor the time being and wait for re-entry.
Best Regards
CA Rajiv
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