LONG TERM VIEW OF CESC

One of our readers has sought opinion on ACC, ABB, CESC, and SIEMENS. I am going to publish the long term view of all these scrips one by one. First, I have presented the chart and view of CESC.

In the above CESC chart, the triangle I have marked, in my terms, is a running triangle. Normally, the tip of the running triangle forms the center point of the entire bull market. Here, by calculating in logarithmic scale, we get a projection of 1200. Usually, the thrust out of a running triangle is always massive. Hence, we are going to see a good rally from current levels to 600 region in 3 to 6 months. And also, the possible target of the scrip would be around 1200 in another 5 years. Until then the trend in the scrip is going to be bullish.

D Sathia Moorthy