October 14, 2015
Century Texiles (NSE Cash)
543 - 540
14 - 21 sessions
Historic lows acted
as a strong support
Source: Falcon (Chart Time: EOD as on October 13, 2015)
We have seen a relentless fall in this stock from the August 19, 2015 high of
719. This sharp correction got
arrested around the ‘Multiple Support Zone’ of
480 and since then it’s been consolidating for nearly six
weeks around it. In the smaller degree charts, we are now observing some signs of a near term reversal as the
stock prices are attempting to move out of the congestion zone. The hourly chart depicts a ‘Cup and Handle’
pattern around its ‘Trend Line Resistance’ level of
542. Thus, considering the positive placement of the daily
we advise traders to buy this stock from current level to a decline up to
a target of
582 in coming 14 to 21 trading sessions. The stop loss for this trade set up can be kept at
October 14, 2015
Last 5 recommendations
Recom. Buying/Selling Range
Target 2 Stop-loss
342 - 340
343 - 346
1250 - 1255
293 - 291
4460 - 4490
Source: Angel Research
Research Team Tel: 022 - 30940000(Extn: 6552) Website:
Angel Broking Private Limited (hereinafter referred to as “Angel”) is a registered Member of National Stock Exchange of India Limited, Bombay Stock
Exchange Limited and MCX Stock Exchange Limited. It is also registered as a Depository Participant with CDSL and Portfolio Manager with SEBI. It also
has registration with AMFI as a Mutual Fund Distributor. Angel has received in-principal approval from SEBI for registering as a Research Entity in
terms of SEBI (Research Analyst) Regulations, 2014. Angel or its associates has not been debarred/ suspended by SEBI or any other regulatory
authority for accessing /dealing in securities Market. Angel or its associates including its relatives/analyst do not hold any financial interest/beneficial
ownership of more than 1% in the company covered by Analyst. Angel or its associates/analyst has not received any compensation / managed or co-
managed public offering of securities of the company covered by Analyst during the past twelve months. Angel/analyst has not served as an officer,
director or employee of company covered by Analyst and has not been engaged in market making activity of the company covered by Analyst.
This document is solely for the personal information of the recipient, and must not be singularly used as the basis of any investment decision. Nothing
in this document should be construed as investment or financial advice. Each recipient of this document should make such investigations as they
deem necessary to arrive at an independent evaluation of an investment in the securities of the companies referred to in this document (including the
merits and risks involved), and should consult their own advisors to determine the merits and risks of such an investment.
Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions and trading volume,
as opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company's fundamentals.
The information in this document has been printed on the basis of publicly available information, internal data and other reliable sources believed to
be true, but we do not represent that it is accurate or complete and it should not be relied on as such, as this document is for general guidance only.
Angel Broking Pvt. Limited or any of its affiliates/ group companies shall not be in any way responsible for any loss or damage that may arise to any
person from any inadvertent error in the information contained in this report. Angel Broking Pvt. Limited has not independently verified all the
information contained within this document. Accordingly, we cannot testify, nor make any representation or warranty, express or implied, to the
accuracy, contents or data contained within this document. While Angel Broking Pvt. Limited endeavors to update on a reasonable basis the
information discussed in this material, there may be regulatory, compliance, or other reasons that prevent us from doing so.
This document is being supplied to you solely for your information, and its contents, information or data may not be reproduced, redistributed or
passed on, directly or indirectly.
Neither Angel Broking Pvt. Limited, nor its directors, employees or affiliates shall be liable for any loss or damage that may arise from or in connection
with the use of this information.
Note: Please refer to the important ‘Stock Holding Disclosure' report on the Angel website (Research Section). Also, please refer to the latest
update on respective stocks for the disclosure status in respect of those stocks. Angel Broking Pvt. Limited and its affiliates may have
investment positions in the stocks recommended in this report.
refer to the latest update on respective stocks for the disclosure
status in respect of those stocks. Angel Broking Pvt. Limited and its affiliates may have investment positions in the stocks
recommended in this report.