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Hot Stocks | Here's why you should be on Crompton Greaves, United Spirits, Supreme Industries for short term

On the daily charts, Crompton Greaves has given a breakout of A-B-C pattern with volume confirmation which shows positive undertone of the stock for the short to medium term.

February 25, 2022 / 07:26 AM IST
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Todays L/H

Vidnyan Sawant, AVP - Technical Research at GEPL Capital

The Nifty has breached and closed below its major support of 16,400 mark which shows negative sentiments of the market. On the monthly charts, the index has sustained near its six-month low for the first time since March 2020.

On the daily charts, it has sustained below its 200-day SMA (16,894) for the first time since July 2020.

The Nifty has immediate resistance placed at 16,400 and 16,894 zone followed by 17,220 and 17,490 levels. The downside support for the index is placed at 15,834 (August 2021 low) followed by 15,450 level.