Below Rs 300, CESC may test Rs 280: Pritesh Mehta

Aug 16, 2013, 02.29 PM IST

According to Pritesh Mehta of IIFL, CESC may touch Rs 280 if it goes below Rs 300.

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Below Rs 300, CESC may test Rs 280: Pritesh Mehta

According to Pritesh Mehta of IIFL, CESC may touch Rs 280 if it goes below Rs 300.

Like this story, share it with millions of investors on M3

Below Rs 300, CESC may test Rs 280: Pritesh Mehta

According to Pritesh Mehta of IIFL, CESC may touch Rs 280 if it goes below Rs 300.

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Pritesh Mehta of IIFL told CNBC-TV18, "We have been bearish on CESC . The stock has given a breakdown below its 200 day moving average and also a monthly long term trend line. Now it is in the process of making lower tops and lower bottoms. Below Rs 300 the selling pressure could get accentuated and we could see levels of Rs 280."

The share touched its 52-week high Rs 367.95 and 52-week low Rs 252.70 on 04 July, 2013 and 28 March, 2013, respectively. Currently, it is trading 18.55 percent below its 52-week high and 18.6 percent above its 52-week low. Market capitalisation stands at Rs 3,776.22 crore.

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