Crompton Greaves - BullishAt excellent support area
405-415 Strong Demand Zone
View negates below 400
Expected resistance zone 450/480
CROMPGREAV
🚀 CROMPTON’s breakout is turning heads! Will it fly high?CROMPTON has been on the radar of many traders after breaking out of a consolidation phase that lasted approximately 15 months. This breakout was characterized by a strong bullish candle, indicating a significant volume-supported price movement. Here's a simplified analysis of why CROMPTON might just be the stock to watch:
After a prolonged downtrend, CROMPTON entered a phase of consolidation, with a clear resistance level that had been tested and held multiple times.
The recent sessions saw a breakthrough of this resistance with a wide bullish candle, suggesting a robust breakout.
Currently, the price is retracing towards what was resistance, now turned support—a classic example of polarity in action.
Volume Analysis: The retracement is occurring on diminishing volumes, hinting that the selling pressure is weak, and the sellers are possibly less committed.
Demand Zone Dynamics: There's a Rally Base Rally Demand Zone in play, and the price is now within this zone, indicating a strong setup for a potential upward move.
The technical landscape suggests that CROMPTON is setting up for a Breakout Retracement Trade at the Demand Zone.
Trade Strategy:
Set a Stop Loss (SL) just below the Demand Zone to mitigate risk.
The first target for taking profits could be the high of the breakout candle.
To potentially benefit from a rally, consider trailing the SL to protect gains.
Conclusion: The technical indicators for CROMPTON are aligning for what could be an exciting trading opportunity. With the price action and volume analysis pointing towards a bullish continuation.
Lastly, thank you for your support, your likes & comments. Feel free to ask if you have questions.
🌟 Trading is a journey, and every trade is a new chapter in your story. 🌟
Please note that this analysis is for educational purposes only and is not intended as a trading or investment recommendation. I am not a SEBI registered Analyst.
CROMPTON SWING TRADINGCrompton good for Swing Trading
Duration - 2 weeks
Buy Range - above 416- 418
Target - 475 - 485
Crompton Greaves LongI would go long the stock because
a. it made a bullish Doji Star 2 days ago at significant 50% retracement level.
b. Primary trend of small swings being supported by the trendline.
c. Last Bar is giving opportunity to enter at cheaper price so Stop Loss is affordable.
One can go long providing suitable Stop Loss and expecting the target double the risk provided.
CROMPGREAV : Channel breakout1) trend was downwards then tried to break 74 level 3 times and failed.
2) it was trading between the 76.40 and 74 levels sideways and finally managed to close above 76.40.
3) Holding the 76.5 levels are important.
CrompGreav Short Setup!!CrompGreav is giving a Short Setup breaking the trendline would take the stock lower toward the first target of 70 and probably further lowers toward 50% and 61.8% retracement levels. Details are giving on the chart. Stoploss should be just above the 89 level and can be trailed for the trade.
Happy Trading!!
