crompton greaves share price target may 2013

Crompton greaves share price technical analysis

crompton greaves share price today closed at 97.2 with loss of 10%+.on daily chart now crompton greaves share comes down to 3 and 1 month average level support.on upside 104 is week average resistance zone.with todays moves momentum once gain in favor of sellers.

for month of may 2013,crompton greaves share major support is at 92 and for now below 98.5 level expect 92 as target level as already tumbled and closed below 98.5.below 92 next support as well as targets are 86 and then 81.and if nifty slips near 5800-5750 then 81 also possible target in 8-9 days time frame.

on performance side,till yesterday showing 15% gains in 1 month and with todays drop now remain 4% only while sensex and nifty now holding 2.5% gains in 1 month time after today 2% drop.

crompton greaves share from long term view,was sell at 128 and targets are on downside 89 which is already achieved in previous fall below 89 expect 63 till end of 2013.investment buying suggested above 128 on weekly closing basis.

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Pramod Baviskar

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