Buy Crompton Greaves on decline: Manas Jaiswal

Manas Jaiswal of manasjaiswal.com told CNBC-TV18, "Crompton Greaves is very interesting chart. It has started making higher tops and higher bottoms now. It has some resistance near to Rs 110-115, but looking at the pattern I think the stock can break its resistance of Rs 115 and can test Rs 130 in next 2-3 weeks time. So I think one should buy on every decline keeping a stoploss of Rs 103."

At 14:34 hrs Crompton Greaves was quoting at Rs 110.65, up Rs 2.75, or 2.55 percent. It has touched an intraday high of Rs 111.45 and an intraday low of Rs 104.

The share touched its 52-week high Rs 125.85 and 52-week low Rs 71.70 on 04 January, 2013 and 25 June, 2013, respectively. Currently, it is trading 12.08 percent below its 52-week high and 54.32 percent above its 52-week low. Market capitalisation stands at Rs 6,967.63 crore.

Disclosure: He has no personal holdings in the stock discussed, but may have advised to clients.