CROMPTON
is at the key levels; and the crossover if happens will give a good upside: Key Levels:
Entry Price: ₹301.70
Target Price: ₹311.95
Stop Loss: ₹291.30
Detailed Technical Analysis:
1️⃣ We are observing a resistance at around ₹300.17. If the stock breaks this level, we can expect it to rise towards the target level of ₹311.95.
2️⃣ The Parabolic SAR issued a 'Buy' signal on 4th August 2023, indicating a potential bullish scenario.
3️⃣ Our analysis predicts a bullish crossover on the stock's RSI (Relative Strength Index) in the near future. This reinforces the 'Buy' signal.
4️⃣ We also observe a positive crossover in the Fisher Transform, suggesting an upcoming positive price movement.
We recommend implementing the key levels (entry price, target price, stop loss) into your trading strategy.
Best Regards.
#PhenogenSolutions #StockAnalysis #CromptonGreaves #TechnicalAnalysis #TradingStrategies
Disclaimer & Disclosures:
This analysis is based on publicly available data and is intended for informational purposes only. It should not be considered as investment advice.
Finogent Solutions LLP is not responsible for any losses incurred based on the information provided.
Investors should conduct their own research and consult with a financial advisor before making any investment decisions.
Trade active:
Crompton after breaching the key resistance closed at the key fibonacci level of 0.786 and is still higher than the day we recommend the entry.
Further the price is still well above the trend line. and if it breaches the same, then we might have to reconsider the position and stance on the same.
Further the price is still well above the trend line. and if it breaches the same, then we might have to reconsider the position and stance on the same.
Trade active:
Hit the target price of ₹311 and then closed a bit lower than that. But we are very sure that in the coming days, it might again hit the target For those who have made profit and don't want to risk too much, can look at this opportunity to exit out And however, for the rest, they can still wait for a day or two to see profit coming, and then they can make their exits in future decisions. However, now we are able to see that it is going to move above the long term moving average of 200 days and would thus be a very good position for the long term buyers. If there is no material difference
Trade active:
While it had test is first target level. we are still seeing the buying pattern in Magdi and other indicators So we can still wait for a couple of days to see it crossing its first target level