CERA

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Can I en­ter Cera at the cur­rent level?

AVOID CERA SANITARY NOW, EN­TER ABOVE RS 2990 LEVEL

Cera is cur­rently trad­ing at Rs 2900. Its 52-week high/low stand at Rs 3225/Rs 1853.15 made on April 26, 2017 and Novem­ber 22, 2016, re­spec­tively. Con­sid­er­ing the daily time frame, the stock failed to break its down­ward slop­ing trend­line level at Rs 2990 on a clos­ing ba­sis. More­over, the fall from the re­sis­tance is sup­ported by ris­ing vol­umes and neg­a­tive cross­over of the 14-pe­riod RSI. The stock forms a kind of tri­an­gu­lar pat­tern which has a break down at Rs 2800. Hence, if stock falls be­low Rs 2800-2700, it may wit­ness fur­ther sharp fall. How­ever, con­sid­er­ing the weekly time frame, the said lev­els act as a pull­back of the 'cup and han­dle' break­out at Rs 2725. Hence, we sug­gest you to avoid for now, but surely en­ter at Rs 2990 level.

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