October 14, 2015
Century Texiles (NSE Cash)
BUY
` 521
` 543 - 540
` 582
14 - 21 sessions
Daily Chart
Historic lows acted
as a strong support
Source: Falcon (Chart Time: EOD as on October 13, 2015)
Justification:
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
momentum oscillators, we advise traders to buy this stock from current level to a decline up to ` 540 for
a target of ` 582 in coming 14 to 21 trading sessions. The stop loss for this trade set up can be kept at
` 521.
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October 14, 2015
Last 5 recommendations
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SL Triggered
Source: Angel Research
Research Team Tel: 022 - 30940000(Extn: 6552) Website: www.angelbroking.com Email: [email protected]
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