Cholamandalam Investment and Finance Company appears to be moving in a range of Rs 1,470 – 1,595 which is in line with the market indices and as it tested and bounced back from the lower end of the consolidation range it can be expected to reach the upper band whose value is placed around Rs 1,600 levels.
Hence, positional traders should buy now and on declines between Rs 1,495 - 1490 for a target of Rs 1,595. A stop-loss suggested for the trade is Rs 1,467.
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