Crompton Greaves stock hits support after 38% drop
In short
Crompton Greaves shares are down 38% from their May high. Choice Broking says the stock is now near a long-term support zone of ₹190-₹200 and may bounce back.
This matters for investors watching the stock after a sharp fall. The report does not say whether the reversal has already begun.
What the reporting says
Crompton Greaves shares have fallen 38% from their May high, and Choice Broking says the stock is now finding support around its multi-year horizontal zone of ₹190-₹200. The broker also pointed to momentum indicators as suggesting a possible reversal. The immediate consequence is a pullback view from analysts, but the source does not state whether a rebound has already started.
Why it matters
Crompton Greaves shares are down 38% from their May high, and Choice Broking says the stock is near a multi-year support band of ₹190-₹200. The broker’s view is based on momentum indicators that it says point to a possible reversal. The reporting does not say why the stock fell or confirm any rebound, so the near-term direction remains uncertain.