Buy Crompton Greaves with target of Rs 472
Rahul Mohindar of Viratechindia is of the view that one can buy Crompton Greaves with a price target of Rs 472. There is major support on the downside towards Rs 340-350. So if one is a patient investor this is a fairly safe stock to be investing into.
Mohindar told CNBC-TV18, “Crompton Greaves will be an outperformer clearly because the longer-term charts look fairly positive. We recommend this buy strategy at current market levels close to Rs 384 for a price target of Rs 472 in the long-term. There is major support on the downside towards Rs 340-350. So if one is a patient investor this is a fairly safe stock to be investing into. On the upside Rs 450 is where the minor resistance is on the long-term but we should safely surpass it and sail through to Rs 472.”
