Date: 22 June 2020
CEAT CMP 935.50
Rising Wedge pattern can be seen in Ceat. Price has broken down the rising wedge pattern. Also stock is approaching down towards 200 DEMA. Stock is moving in a channel.
T1: 926, T2: 883, T3: 840; SL: 975
Target Date: 20 July 2020
Risk to Reward: 1:3
Potential profit: 10%
CEAT: This is how I look at it, purely my POV.
For me it's a *NO* for long term. However swings can be enjoyed looking at daily chart as per individual setup.
Looking at weekly chart Demand seems to be btn 752-851and Supply 1390-1420.
The move from DZ was seen somewhere in may 2016, and it was recently tested, the leg out candle after the test was Bullish...
CEATLTD looks bearish for short term.
Sell Below: 1300 for targets -
Note: These calls are based on my own analysis. It may or may not work well for you.So please carefully consider whether it is suitable for you and please do your own research before attempting any. The profit/loss made by you due to this call, is solely...