CROMPTON GREAVES - breakdown from a parallel channel
CROMPTON GREAVES seems to have exited downwards from a parallel channel of many many months (that it had entered in Dec 2020).
Other indicators are also looking downwards.
Key retracement levels of the price move from 177.30 to 456 are:
38.2% : 349.55
50% : 316.65
61.8% : 283.75
Supertrend will turn negative if price breaks 392.92 levels.
Last swing low (on monthly chart) of 350.35, if broken, would indicate a break in the current structure and can push the price further downwards.
DISCLAIMER: This idea is published for educational purposes only. This is not a recommendation to trade. Kindly take any trade after doing your own research and on your own responsibility.
Other indicators are also looking downwards.
Key retracement levels of the price move from 177.30 to 456 are:
38.2% : 349.55
50% : 316.65
61.8% : 283.75
Supertrend will turn negative if price breaks 392.92 levels.
Last swing low (on monthly chart) of 350.35, if broken, would indicate a break in the current structure and can push the price further downwards.
DISCLAIMER: This idea is published for educational purposes only. This is not a recommendation to trade. Kindly take any trade after doing your own research and on your own responsibility.