Century Textiles & Industries Ltd. CMP— Rs 329.30
Technical Outlook & Trading Strategy:-
On the daily chart the share price of Century Text has closed below its cluster of moving averages. The stock has registered a breakdown from a symmetrical triangle pattern. It should be noted that symmetrical triangle breakdown signify distribution and suggest price declines. The momentum indicators are also in a bearish zone.
We recommend traders to sell 50% below Rs 326 and again in the range of Rs 328 – Rs 330 levels with a stop loss placed above Rs 336.6 levels for targets of Rs 315 – Rs 306 levels, expected to be achieved in coming few sessions.
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