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Short suggested at around 1185-1188; stop 1225
Stock has formed a consolidation pattern in the form of H&S amidst its strong downtrend as confirmed by Trend Template.
CEAT's level to watch is 1300-1310. A cross of 1310 would indicate upmove else the stock may retrace down
Stock closing near to Day low & last hourly Selling showing weakness in Stock
Sell in Strong trading zone for more profit
Tyre stocks like CEAT, Apollo Tyres and MRF seem to be following a similar structure.
MRF has already broken out of it's corrective structure. It's likely that CEAT and Apollo Tyres would do the same.
CEATLTD - Breakout move on close above 1165.