The shares of CMC which rose 2.4 per cent on Wednesday could get boost from the announcement that the company has won a legal case against the Kuwait Stock Exchange (KSE). The exchange will pay CMC approximately ₹46 crore. Moreover, the price action on the charts suggest the possibility of a rise. The stock is getting continuous support from its 200-day moving average, currently at ₹1,359. Resistance is at ₹1,430. A breach of this level can take the stock to ₹1,450 and ₹1,470 in the coming days.
CMC gets a legal booster
Published on
March 26, 2014 17:05