Crompton Greaves may test Rs 138, says Sudarshan Sukhani, s2analytics.com.
Sukhani told CNBC-TV18, "Crompton Greaves, after that huge decline and the fact that Rs 180 did not hold and I also felt that no, we are going to see lower levels - we have come to the Rs 120 levels. Now at Rs 120- 130 Crompton is making a trading range. That could be the beginning of a base and that could remain choppy. But it's doing all the right things to justify buying in a sideways mildly bullish market. A target of Rs 138 is there but for Crompton my suggestion would be that if the target exceeds or if you see closing with strength, you can actually carry your positions also."
He further added, " Zee Entertain hasn't actually broken down but the charts, the base, the kind of choppy action it is showing at the lower end of a trading range suggest that the breakdown is eminent. A lot of media stocks are not doing very good things. Zee is leading that pack. I think Zee entertainment is going to breakdown and then go below Rs 100. This is a short selling idea. In a choppy market we can take both sides of the trade. Some stocks can be bought and Zee is an ideal short selling candidate not just for day traders but for somebody who wants to take a position and look for a deeper slide, its right for that."
