Crompton Greaves Trading strategy for December 31, 2009
December 30, 2009 by admin
Filed under Analyst's Corner
Crompton Greaves (415)
The stock has formed “Bearish Engulf” bearish candlestick pattern on daily chart. Daily RSI and MACDh are showing weakness. Weekly RSI has also given negative crossover in overbought zone. The stock has minor support at 412 level. Once it breaks then bear will have strong grip. Looking at all the above evidence, trader with moderate risk appetite can sell between 415-412 with tight stop loss of Rs.422 on closing basis for a Target of Rs.395.
Trading strategy by analyst Dhawal Joshi -www.freestockmagic.blogspot.com
