The outlook is bullish for CIE Automotive India. The inventory has made a bullish breakout by surging over 6 per cent on Wednesday. This surge has taken the share worth effectively above the important thing resistance degree of ₹510. This degree has been capping the upside since October final yr. So, the breakout may be very important. Any intermediate dips will now be restricted to ₹510 as recent consumers are more likely to come into the market.
CIE Automotive India share worth can rise to ₹580 within the coming weeks. Merchants can go lengthy now at round ₹531. Accumulate on dips at ₹515. Preserve the stop-loss at ₹490 initially. Path the stop-loss as much as ₹537 as quickly because the inventory strikes as much as ₹548. Transfer the stop-loss additional as much as ₹560 when the worth touches ₹570. Exit the longs at ₹580.
(Word: The suggestions are primarily based on technical evaluation. There’s danger of loss in buying and selling.)
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