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.
Friday, August 5, 2011
TRADING RECOMMENDATIONS Tata Global Beverages Ltd.
Tata Global Beverages Ltd. CMP— Rs 111.00
Technical Outlook & Trading Strategy:-
The share price of Tata Global Beverages has registered a breakout form its resistance level of Rs 109 with an increase in trading volumes. The overall technical set up remains positive. We believe that the share price could head towards the level of Rs 115 / Rs 118 in the near term.
We recommend buy at current level and again on pullback to the level of Rs 110 - Rs 109 with a stoploss placed below Rs 107 level.
Technical Outlook & Trading Strategy:-
The share price of Tata Global Beverages has registered a breakout form its resistance level of Rs 109 with an increase in trading volumes. The overall technical set up remains positive. We believe that the share price could head towards the level of Rs 115 / Rs 118 in the near term.
We recommend buy at current level and again on pullback to the level of Rs 110 - Rs 109 with a stoploss placed below Rs 107 level.
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