Welcome Back Friends,
Today's Stock Idea : CEAT Ltd.
Let's see What the Charts Say ..
This is weekly Chart, showing strong upmove in last many years, price still moving in rising channel and moving towards the channel support, It seems to show a flag formation in recent time with a good move within the flags cloth area.
We expect the price to fall some more and give opportunity to enter Longs.
Recommendation :
BUY CEAT LTD. IN THE RANGE OF 1100-1080 with a Stoploss around 1020 and Price Targets of Around 1180 - 1300 - 1500
F&O Traders may Enter near Lower Levels with December Expiry Contracts,
Lot Size is 700
Approx Risk : 42,000/-
Approx Reward : 2,80,000/- at 1480 level.. 400 Rs. upside.
Risk - Reward is almost 1:7, nice one.
Please follow strict Risk Management and Do not Speculate as these trades are based on Technical Analysis of Higher timeframe charts, The Expected Price Movement may take Longer time. These are Recommendations for Investment Purpose Only.
Invest Safe, Invest Wisely !!
