CEAT LTD:- double bottom pattern breakout. keep on radar.
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rest details mentioned in the chart.
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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.
Strong pullback in weekly charts we may expect rally will continue for short term.
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Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before...
So as you see in the chart, there is a strong resistance at the level of 1399,
And stock is following thr trendline now, so if the goes above 1399,
We can buy this trade for target of 1435, if stock break the trendline in a down side.
We will totally ignore this trade.
What's your view comment below in the box.
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...