CEAT is making LL and LH so it is in Downtrend and will continue to make new Lows till 600 where it can find support from previous year low of 596. This stock can return 25% to 30% in duration of 8 to 12 months from entry price of 650. Above projections are on conservative base.
20% @ 707.50
30% @ ...
H&S Pattern under development can take small short position with tight stop above head. Add to your position once market brakes the neckline.
1st Target : 1175 till 1st Aug 2016
2nd Target : 1100
Note: 2 Big events underway:
1) FOMC on 15th June.
2) Brexit vote on 23rd June and results on 24th June.
Nifty under 200 DMA will fall back in to the channel and start the Lower Low Lower High pattern for downtrend.
First Target : 7560
Second Target : 7260
Third Target : 6960
Above targets can be achieved by Middle of July 2016. Place your stop loss orders between 8025 to 8050.
This projection is ...
The Triangle formation target is achieved. Market will fill up the gap dawn it opened as we can see that market has filled the gap before. First target is to fill the gap and second target will be to touch the trend line.