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CEAT - IH&S - SHORT TERM BUY

Long
NSE:CEATLTD   CEAT LTD
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2
The stock had taken support on the lower end of the channel and has now made a inverted H&S pattern with a target of 1200. Stock may be bought around 1150-55 with a SL of 1135.
Comment: The stock made a high of 1213 today and has broadly reached the target range. Going forward, until Nifty breaks above 8240-50, CEAT is likely to trade lower toward 1150-60. Sell on rallies..
Comment: The stock had made rallies to 1235-38. If one had sold as recommended, must be having a good profit.

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