ceat tgt 1320 max i expect it was buy from 1320 level
ceat has witnessed a breakdown. Stock could move towards 950 levels on daily chars.
CEAT looking weak on chart so we can go as stbt and positional short for target 1200-1150 in next 10-15 days
Looking at the charts its been observed that CEAT has given bearish channel breakout with good volume. Also 38.2% level on Fib looks like good support. Will this sustain and touch 1360, if not broke below 1200 on closing basis? We will see.
Ceat Ltd. is trading in bearish trend and seem to touch its long term support 1181.80 and may go upward if breakout didn't occur, else it may further retrace up to its next support somewhere between 1100-1095. trader may wait and cautious at 1181.85 and enter according to the trend. if breakout prevails then go short or if reverses then go long.
Ceat giving short Breakout blw 1198 can go to 1189 with sl 1208
in.tradingview.com Short Ceat below 1246... Target 1 - 1232 Target 2 - 1201 Stop Loss @ 1282
Long ceat abv 1322 sl 1307.50 tgt 1336.50
Regression trend channel hitting plus a bearish AB=CCD harmonic pattern formed on weekly
Analysed this stock on 2 Sept when it was closed @ 952. Tried buying next trading day but bad luck it was in ban period. Volumes, MACD, OBV & ADX positive. Target 1 - 1183.80/
CEAT closed above its 200 day EMA on 02-Sept with a huge candle and huge volumes. Today's price action confirmed the breakout with good volumes. Long positions can be entered with the 200 day EMA as a stop for first targets of 1045
Ichimoku best works with clear chart patterns and trending stocks. On Daily charts, we have witnessed a Kumo break out, which indicates we can initiate a trade and go long on CEAT. I had marked the resistance areas 950, 1030, 1125 & 1300 where we can see some corrections. PRO's please guide with your comments.