- Ceat is currently trading at a crucial supply
- I think once the market starts retracing Ceat can soon start to retrace as well
- Ceat can drop anytime after absorbing some more orders
- The risk here on this trade stays around 3-4%
#CEAT
CEAT reached a high of 2019 in Jan'18 and had been falling in a channel. It attempted breaking out of the channel in Nov '22 but failed. However, subsequently it broke out of the channel in May '23 successfully rising from a low of 1512 to an All Time High of 2642. Following, which the scrip faced a correction and is now consolidating near the support zone 1948 -...
ceat share complete daily time period 5 wave and complete correction wave a,b,c correction irregular flat correction and price again move upside weekly 3rd wave
Ceat is looking technically strong with CMP above all major moving averages.
If we have a closing above the top trend line we ma see prices moving higher and creating a fresh new high.
Any closing above 1564 should help our cause.
Entry – CMP 1,330 ( can enter around 1280-1300 levels too to tighten the Stop loss)
Stop loss -1215 Daily close (Tight Stop 1280)
Target 1 – 1730
Target 2- 1950
Duration – 2-3 years
Co has good Fundamentals and is available at beaten down prices
Co is one of the largest tyre manufacturers and is one of the fastest growing tyre companies in India
Co has debt to...
Ceat have took very strong support on the 1 yr trendline with good volumes.
Also formed bullish engulfing at support.
Today's volume is highest since 4th Feb 2021.
It has also given short term breakout.
The R1 is resistance on Daily timeframe and weekly timeframe too(Aug 2018 candles).
Let's see how it moves further.
I'm not a professional or very experienced...
