-------- Forwarded Message --------
Subject: Crompton Greaves: Has A Great Run Of Over 22% From Recent Low
On The Back Of Demerger News---What's Next ?
Date: Thu, 3 Dec 2015 09:07:51 +0530
From: Asis Ghosh <asis...@gmail.com>
Reply-To: asis...@gmail.com
*Expect 230-250 only sustaining above 201-211 zone;*
*Otherwise, 177-164 again on the card, if sustain below 191-187*
*CMP: 197*
*Sell either below 198 or on rise around 203-208-211;*
*TGT: 187*-177-164* (1-2M)*
*TSL> 215*
Note: Consecutive closing above 215 for any reason, CRG can move up to
220-230*-250 zone and in that alternative scenario, sell position may be
reversed and wait for next heavy supply zones around 230-250 for further
selling/appropriate strategy.
CRG has a dream run from its recent low of around 164 on the back of
de-merger news with its consumer products division (fans/lights/pumps
etc). After de-merger, the company is expected to increase its footprint
into other industrial appliances including switch-gear market.
Apart from this de-merger news, CRG has done a lots of
de-leveraging/divestment in the last few months (land sale for Rs.490
cr; sale of Canada Power System at CAD 20 mln; exit from the
distribution franchise in MH; stake sale in CG Lucy switch-gear ).
Analysts are also expecting sell of its international power div and
substantial reduction in consolidated debt (around Rs.2500 cr as on
FY-15) to almost zero.
Current consolidated TTM EPS is around 2.30, while on standalone basis
it comes to around 11.82. Analysts are excited about its standalone
earnings potential after de-merger and has given "thumbs up" to the stock.
No doubt, CRG is a good stock and re-rating may be also on the
card/happening on the back of de-merger/leverage news flow.
But considering the recent rally for the stock, and time & price action
on technical chart, the above positive sets of news flow might be
already discounted by the market to a great extent and the scrip may
face strong supply pressure around 201-211 zone and in that scenario,
buy on dips around 177-164 area may be safe for better portfolio return.
To be cont for more news & analytical inputs----
*
*
*Analytical Charts:*
<http://2.bp.blogspot.com/-IuNBLMpbPrg/Vl-0FpVqw8I/AAAAAAAAFGY/mu_xMJVfzFo/s1600/CRG-02-12-2015.png>
<http://1.bp.blogspot.com/-FwaM61e4Npw/Vl-0JRc0OiI/AAAAAAAAFGg/meoTiJgEWgc/s1600/CRG-FIBB-02-12-2015.png>
<http://2.bp.blogspot.com/-qDHKTVGY1fs/Vl-0LAvT0jI/AAAAAAAAFGo/FoznYQZ7oL4/s1600/CRG-WK-02-12-2015.png>
<http://3.bp.blogspot.com/-HematH1NWqA/Vl-0NE7HZ0I/AAAAAAAAFGw/jzeE98pnv6U/s1600/CRG-PATTERN-02-12-2015.png>
<http://1.bp.blogspot.com/-toKMtQu4MxY/Vl-0PXzIAKI/AAAAAAAAFG4/-AlAFN8mV7E/s1600/CRG-TL-02-12-2015.png>
<http://4.bp.blogspot.com/-KhTMVV5n_90/Vl-0Xqp-cNI/AAAAAAAAFHA/OWyC_oTaLQg/s1600/CRG-TL-MT-02-12-2015.png>
--
Thanks & Regards,
Asis Ghosh
(asisghosh.blogspot.com)
--
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