- 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 -...
Entire tyre manufacturing companies are in good position.
This tyre manufacturing company has given a strong breakout on daily and weekly chart. Volume near the breakout is also increasing which is good sign. The stock is in blue sky zone hence, possible targets in the chart can be calculated using Fibonacci retrenchment tool.
Disclaimer: Stock shared is for...
📊 DETAILS
Sector: Auto Ancillaries - Tyres & Rubber Products
Mkt Cap: 10,199 cr
CEAT, established in 1958, is one of the largest tyre manufacturers and one of the fastest-growing tyre companies in India. CEAT became a part of the RPG Group in 1982. It is amongst the Top 25 best workplaces in Manufacturing by GPTW for 2022.
TTM PE : 19.55 (Average PE)
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Checkout an amazing breakout happened in the stock in Weekly timeframe, macroscopically seen in Daily timeframe. Having a great favour that the stock might be bullish expecting a staggering returns of minimum 25% TGT. IMPORTANT BREAKOUT LEVELS ARE ALWAYS RESPEECTED!
NOTE for learners: Place the breakout levels as per the chart shared and track it yourself to get...
Ceat Ltd. - Monthly breakout and retest, huge upside potential as the stock is undervalued and has impressive fundamentals. It looks very good technically with great price action.
The stock recently experienced both a multi-year and cup pattern breakout. Afterward, it retraced to retest the breakout zone and exhibited a bounce-back with strong volumes. Additionally, it broke a short-term trendline on the daily chart.
This sequence of events, including the breakout, retest, and subsequent rebound with increased volumes, suggests a robust...
Ceat weekly chart ...if one see broken a range of pattern and retested breakout level . And trying to move in parallel channel .and try to touch expected level of range ...now recent high immediate resistant . Currentaly indicator is also showing Upmove.
This stock has broken out of a 2.5 month consolidation zone followed buy breakout of 50 day EMA.
Current view is bullish with expected target around 10-12% for swing trading.
Current market price is 2171.90.
Intraday Trade setup for 26 April
I have selected 4 stocks for intraday, not all the trades will get executed.
I always place Stop Loss Market Buy order above or below (for LONG and SHORT) the high/low of the reference candle to make an entry.
Entry: 1449
SL: 1434
Target: 1479
Disclaimer: The analysis or trade setup is of my own. Please do your own analysis...
CEAT - Taken support and can reverse up .
Disclaimer:
For educational purpose only.
Please do your own research before taking any trades.
Happy Trading!
📊 Details
CEAT, established in 1958, is one of the largest tyre manufacturers and one of the fastest-growing tyre companies in India. CEAT became a part of the RPG Group in 1982. It is amongst the Top 25 best workplaces in Manufacturing by GPTW for 2022.
Disclaimer: This analysis is solely for educational purposes and does not make me a SEBI registered...
