Buy Crompton Greaves: Ashish Chaturmohta

Ashish Chaturmohta of Fortune Equity Broker is of the view that one may go long in Crompton Greaves for a target of Rs 220-225.

Ashish Chaturmohta of Fortune Equity Broker told CNBC-TV18, "We are quite positive on Crompton Greaves . Post results, it has formed a low around Rs 185 levels and from those levels continuously we are seeing a decent rise in the open interest. It is clearly indicating that lot of long accumulation is happening."

"The stock is trading in a range between Rs 185-205 levels. The kind of build up would clearly suggest that once the stock crosses Rs 205 levels then there is going to be lot of short covering in the stock and that can pull it towards Rs 220-225 odd levels on the higher side. We are recommending a long position at current levels with a stoploss below Rs 192 for an upside target of Rs 220-225," he added.

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