Buy and Hold Crompton Greaves for 4-5 weeks between 245-248, target- 266.0, stoploss 235.0

On Friday, Crompton Greaves Ltd. has closed at Rs. 244.4. The 20 days moving average closed at Rs. 242.0 and 50 days moving average closed at Rs. 245.8. RSI is at 51.2. The stock is consolidating in a range of 240-250 over a week. The technical indicators indicate an up move from current level. We expect the stock to see further up side from current levels. Hence, we recommend a buy on this stock between Rs. 245-248 with a target of Rs. 266 over the next 4-5 weeks. Stop loss can be put at Rs. 235.0

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