"Traders can buy the stock around current level and add on dips around Rs 244-246 with a stop loss below Rs 234 (closing) for a target of Rs 275," says Abhishek Mondal, Research Analyst at Guiness Securities.
Moneycontrol News
Abhishek Mondal
After making a long consolidation, Crompton Greaves Consumer Electricals has given a breakout above Rs 245-246 levels on Monday with higher volumes. The daily Relative strength index (RSI) is showing upward momentum and MACD is trading above zero with positive crossover whereas (+) DI just cross above (-) DI.
On Balance Volume or OBV is showing an upward momentum, which indicates that the stock has the potential to move higher. A trader can buy the stock around current level and add on dips around Rs 244-246 with a stop loss below Rs 234 (closing) for a target of Rs 275.
Disclaimer: The author is Research Analyst, Guiness Securities. The views and investment tips expressed by investment experts on moneycontrol.com are his own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.