CESC Ltd on Weekly TimeframePrice is moving in the same area from two years.
There's a strong resistance level in the range 91 - 96.
There's a possibility that price breaks this level in coming weeks , we can see volume is increasing.
Also price is above 200 EMA.
Don't haste wait for the breakout with big green candle .
FUNDAMENTALS :-
Pb ratio :- 1.05
Fy PE ratio :- 8.88
Revenue increasing in past three years.
CESC trade ideas
CESC is ready to breakout channel patternNSE:CESC is ready to break channel pattern in upside.
Technically volume levels are good as up move is with high volume and down move is with less volume.
Financials too looks good.
Key note : Always follow proper risk management to avoid losing capital from false breakouts as this is common.
Caution : This is a knowledge sharing analysis, not a call.
Profits are not made from following ideas, but by following Risk Management .
CESC ReversalThe stock has reached lower trendline and may undergo a reversal rally. Trade is supported by brokerage calls and Supports Nearby.
Risk Reward Ratio - 3:1
SL is placed below support zone & the lower trendline. The target is placed near resistance.
Market is bearish, so take positions carefully.
Breakout, retest and move upCESC retested upper channel and importantly the last candle formed is worth noting ( weekly TF ). Bears had control for most of the week before bulls took over...hence the big wick at the bottom...which also indicates a move up...let's see how it plays out...targets marked. This is an idea, not a recommnedation. Also note 4 supports and 4 resistances inside channel ( 3 or more S&R is good)