CEAT - PARALLEL CHANNEL + SUPPORT LINES

CEAT LTD.BSE

Description

⋅ Jan 20, 2017 7:08 PM

NSE:CEATLTD

CMP - 1174.50

You can see the parallel channel and the support lines which date back to previous months.

Trade accordingly ,

Thanks,
I hope you like it.

Comment

⋅ Feb 7, 2017 3:27 PM

Faced resistance from upper line.

ceat Descending Channel

Comments

Subra1953

⋅ Feb 7, 2017 3:55 PM

Another good trade set up and did few trades based on this trade set up.

dravya

⋅ Feb 7, 2017 4:06 PM

@Subra1953, that's nice if it helped you make money.

AMBRISH

⋅ Feb 7, 2017 3:52 PM

Yes, it is good to sell .

dravya

⋅ Feb 7, 2017 4:06 PM

@AMBRISH, now the risk:reward ratio is lesser attractive. it was best on the lines.

satishshetty6173

⋅ Jan 21, 2017 5:42 PM

looks like a good shorting candidate.with a strict sl of 1250. Target 1120

dravya

⋅ Jan 22, 2017 7:08 AM

@satishshetty6173, rather than fixed prices, vary them according to time they take , and subsequently reach the lines. Thanks.

dravya

⋅ Feb 7, 2017 4:05 PM

@satishshetty6173, nearing 1120.