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Tyre Industry . MRF J.K Industries: Balkrishna industries Good year Ceat India . Wait & Watch – Bullish Trend Yet to Confirm.

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tyre industry

Tyre Industry

MRF

J.K Industries:

Balkrishna industries

Good year

Ceat India

wait watch bullish trend yet to confirm
Wait & Watch – Bullish Trend Yet to Confirm

MRF: Technically the stock keeps us in a wait & Watch status since reversal is not confirmed. The stock witness a strong support at 3500-3600. We could expect a positive turnaround up to 4000 levels initially. If it manages to consolidate and maintain a close above 4000 levels on weekly basis, We could see a further target of 5600–7800.

on consolidation
On Consolidation

J.K. Industries: We could see some consolidation happening in the range of

130-140 levels. A Positive move is expected only if the

scrip closes above 145 on weekly Basis with target 200-275).

bullish trend
Bullish Trend

Balkrishna Industries: The scrip slips from the Higher levels of 1055 and

manages to take a support at 440 levels on weekly basis.

We recommend a Buy only on dips.

Good Year: The scrip has turned bullish at current levels. We expect a

positive target of 285-450 on long term basis.

Ceat: Buy at current levels with a Medium Term Target of 208

    Level of 332 is possible on Long Term Basis.

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Disclaimer:

This report has been prepared solely for information purposes and the information contained herein may not be deemed to be an investment advice. Such information is impersonal and not tailored to the investment needs of any specific person. The information contained herein is not a complete analysis of every material fact representing any company, industry or security. The views expressed may change. While the information contained herein has been obtained from sources believed to be reliable, no responsibility (or liability) is accepted for the accuracy of its contents. Investors are advised to satisfy themselves before making any investments and should consult with and rely upon their own advisors whether and how to use such information in making any investment decision. Neither the author nor his firm accepts any liability arising out of use of the above information/ article. This report is exclusively for the clients of Venkataraman & Co. only.

VENKATARAMAN & CO.,

Stock & Share Brokers, New No.2 (Old No.52)

Dr. Ranga Road, Mylapore, Chennai 600 004.

Web: www.venkataraman .com E-mail: vnkco@vsnl.com