Buy Crompton Greaves; target of Rs 159: IIFL

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Buy Crompton Greaves; target of Rs 159: IIFL

IIFL is bullish Crompton Greaves and has recommended buy rating on the stock with a target of Rs 159 in its February 13, 2012 research report.

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IIFL is bullish Crompton Greaves and has recommended buy rating on the stock with a target of Rs 159 in its February 13, 2012 research report.

"Crompton Greaves had been consolidating in a range between the levels of Rs136-148 for last two weeks. On Friday, in a weak market, the stock broke past the upper-end of the trading range. The stock is witnessing strong accumulation at current levels, which suggest that it may eventually result into an upward breakout. A break above Rs 151 could lead to a fresh directional move in the same direction. Keeping in mind the abovementioned evidences, we recommend high risk traders to buy the stock above Rs 151 with stop loss of Rs 147 for target of Rs 159," says IIFL research report.   

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