Crompton good for Swing Trading Duration - 2 weeks Buy Range - above 416- 418 Target - 475 - 485
I 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.
1) 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 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!!