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You are here : IndiaNotes >> Research & Analysis >> Companies >> Coromandel International Ltd. >> Research

Technical Calls: Buy CESC and Coromandel International

SMC | 03 Jan, 2017  | Follow Author | Add to my Favourites 
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CESC:


The stock closed at Rs638.50 on 30th December 2016. It made a 52-week low at 404.55 on 12TH February 2016 and a 52-week high of 683 on 01st September 2016. The 200 days Exponential Moving Average (EMA) of the stock on the daily chart is currently at 590.80.


It has formed inverted head and shoulder pattern on daily charts, which is bullish in nature. Therefore, one can buy above 645 levels for the upside target of 685- 700 levels with SLbelow 625.


Coromandel International:

 

The stock closed at 292.45 on 30th December 2016. It made a 52-week low at 145.50 on 12th February 2016 and a 52-week high of 293.90 on 01st November 2016. The 200 days Exponential Moving Average (EMA) of the stock on the daily chart is currently at 247.42.


As we can see on the charts, in the first quarter of this year, it made double bottom at lower levels and then never looked back despite weakness in the broader index. Moreover, after every retracement it finally went in northward direction and sustained on a higher note which shows its strength. Therefore, one can buy in the range of 285-287 levels for the upside target of 305-310 levels with SLbelow 275.


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About SMC
SMC Research, founded in 1990, is India’s leading share and stock broker, provides a wide range of financial services and investment solutions. A blend of extensive experience, diverse talent and client focus has made us the 4th largest broking house in India(Source: Dun and Bradstreet, 2008). Over the years, SMC has expanded its operations domestically as well as internationally. Existing network includes regional offices at Mumbai, Kolkata, Chennai, Cochin, Ahmedabad, Jaipur, Hyderabad, Bangalore plus a growing network of 2100+ offices spread across 425 cities/towns in India.


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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.



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