CEAT Limited has broken the falling trend channel in the medium long term and reacted strongly up. For the time being, it is difficult to say anything about the future trend direction. The stock has broken a resistance level and given a positive signal for the long-term trading range. The stock has broken up through resistance at rupee 1930. This predicts a further rise.
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In case of negative
reactions, there will now be support at rupee
1930. Positive volume balance strengthens
the stock in the short term. RSI above 70
shows that the stock has strong positive
momentum in the short term. Investors have
steadily paid more to buy the stock, which
indicates increasing optimism and that the
price will continue to rise. However,
particularly for big stocks, high RSI may be a
sign that the stock is overbought and that
there is a chance of a reaction downwards.
The stock is overall assessed as technically
positive for the medium long term.
