Shown above is the daily chart of Ceat Ltd. As we can see that the stock is in a correction phase in a triangle marked by the points a,b,c,d and e respectively. According to the 60 minutes chart it seems to have completed it's e wave. Therefore, I am expecting the stock to show some correction till levels below 700 and maintaining a stop loss at 842. Visit www.nseequityguide.blogspot.com for more calls.
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