Crompton Stock Analysis by Yagnesh Patel
Yagnesh Patel 
Crompton stock analysis & support/ resistance levels
Crompton Stock Analysis
- Price Movement: Crompton experienced a significant upward rally after hitting a low in March 2024, achieving an impressive 84% return by September 2024. This steady uptrend over 7-8 months indicates a strong momentum in the stock.
- Reversal candlestick Pattern: A hammer candlestick pattern has formed, which typically signals a reversal in trend.
- Weekly Chart Analysis: The reversal candlestick emerged at the 50% Fibonacci retracement level, situated around 380, which is a significant support zone. Crompton’s price has shown resilience at this level for the past three weeks, consolidating in this zone and signaling robust support.
- MACD: The MACD has generated a positive crossover, a bullish indicator suggesting an optimal entry point.
- RSI: The RSI is close to the 40-level support after briefly dipping below, highlighting a potential reversal and renewed strength in this zone.
Conclusion: It is a high possibility stock may go higher from cmp – 849
Important Resistance: 410 - 420 - 448
Important Support: 392 - 381 - 364
Analyst: Yagnesh Patel
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SEBI Registered Research Analyst
Registration Number: INH000016320
Email: support@yagneshpatel.in
Disclaimer-
I’m SEBI Registered RA. Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of a SEBI recognized supervisory body (if any) and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.
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