CROMPTION - STOCK ANALYSIS
Crompton Greaves Consumer Electricals Ltd. (NSE: CROMPTON) on a monthly time frame
Here's a breakdown of the key observations:
1. Price Action
The chart shows a large price swing, with the stock previously declining by 48.9% (from around ₹495 to ₹252).
After the correction, the stock has rebounded, and it is currently trading at ₹432.05.
2. Projection
The next upward target range seems to be set at ₹650-700, which suggests a potential 49.73% increase in price from its current level.
3. Key Zones
Support Zone: Around ₹250, as seen from the previous drop.
Resistance Zone: Around ₹750, which is the potential target for the stock based on this technical setup.
4. Volume
There is Cumulative Volume Delta (CVD) data at the bottom of the chart, showing volume activity during the upward movement. The CVD suggests buying pressure is slightly above the selling pressure, which can support the upward trend.
5. Conclusion
The stock has gone through a significant retracement and seems to be on a recovery path with the potential for further gains. The chart suggests a bullish outlook in the medium to long term, with an expected target around ₹700.
This analysis appears to be based on technical chart patterns, which can be used for swing or long-term trading strategies.
