Share to buy on June 27: Buy CESC shares for 32 pct returns in 12 months, say experts
The CESC or Calcutta Electric Supply Corporation share price is expected to give 32 per cent returns in around 12 months, say experts.
The CESC or Calcutta Electric Supply Corporation share price is expected to give 32 per cent returns in long-term perspective means in around 12 months, say stock market experts. As per the share market experts, the CESC stock has closed at Rs 783.10 on Wednesday and is bullish in short-term, mid-term and long-term. The stock has closed above the 21 days exponential moving average, 63 days exponential moving average and 200 days exponential moving average that makes the counter bullish in the short-term, mid-term and long-term perspective.
Giving short-term technical outlook of the CESC share price Gajendra Prabu, Technical Research Analyst at HDFC Securities said, "Price has begun the rally after minor downward retracement from 786 to 751.50, which is “wave ii/b” with the internals of a-b-c. The stock now is in progress of “wave iii/c” up which could initially head towards 830, which is down gap resistance witnessed on Oct 30, 2019. Price has been maintaining higher tops and higher bottoms in the bigger picture, which is a bullish continuation structure. Apart from this, price is trading above all key moving averages of 21, 50 & 200 Day EMA." On the suggestion to the stock market investors in regard to CESC shares, Gajendra Prabhu of HDFC Securities said, "So traders may look to buy the stock at CMP (Rs 783.10/stock) for the upside target of Rs.830 over the next 2-3 weeks. Place a stop loss at Rs 760."
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Giving details of the counter Prakash Pandey, Head of Research at Fairwealth Securities said, "The CESC stock has closed above the 21 days exponential average, 63 days exponential average and 200 days exponential average, which makes this counter bullish in all short-term, mid-term and long-term perspective." For short-term, he said that the counter may show Rs 830-835 levels while in the mid-term target of the CESC counter would be Rs 900. However, for the long-term perspective means in around 12-months period, the target that Prakash Pandey of Fairwealth Securities gave for the CESC shares was Rs 1,040 per stocks.
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