Crompton Greaves announced its first quarter, 2011-12 results on Wednesday 20/07/2011.
The company’s net profit decreased by 58.4 percent to Rs 79.47 crore in Q1, 2011-12, as compared with Rs 190.85 crore in the year ago period as profitability of all its segments registered a decline compared to the corresponding quarter of last year.
This affected the share price of the company and the price went down to Rs.171.1 very close to the 52 week's low price.
Today (25/07/2011) the price of the share closed at Rs.181.70 at NSE.
But since the management side is really strong and company has strong fundamentals and good quality products, we can make investments in these ranges without any fear.
When I observed the support levels of CG I found that the major support will be at Rs.171.
So when it reaches that level we can make investments. Even in these levels also long term investors can make investment.
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| Resistance level of CG (Courtesy www.moneycontrol.com ) |
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| Support level of CG (Courtesy www.moneycontrol.com ) The different resistance levels will be at Rs.251, Rs.275.2, Rs.297 etc. But in order to reach that level we have to wait at least till the next quarter result. So invest in these levels, wait patiently. You will get a good profit from the above stock. Regards Hari " लोका समस्ता सुखिनो भवन्तु " |
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