Crompton Greaves near to major support: Manghnani

Crompton Greaves is near to its major support level, says Anil Manghnani, Modern Shares & Stock Brokers.

Manghnani told CNBC-TV18, "Post the numbers Crompton Greaves has crashed 10% plus on the same day. It is very close to its 50 month and 200 week, which is around Rs 200 or Rs 198. It needs to hold that to have any chance of a bounce. If it starts to trade below Rs 198, then unfortunately there is no level till Rs 169. So, I think it is very close to that major support or major moving average where it needs to bounce otherwise another Rs 30 can easily be wiped off."