January 22, 2016
Century Tex (NSE Cash)
BUY
` 490
` 512 - 508
` 551
14 - 21 sessions
Daily Chart
Source: Falcon (Chart Time: - 09:40 IST)
Justification:
Post recent correction, the stock is currently trading near the trendline support. On Wednesday, the prices
had formed a ‘Bullish Hammer’ pattern on daily charts. The mentioned pattern is a trend reversal pattern and
formation of the same near the support indicates that the prices could give a pullback move in near term. The
‘RSI Smoothed’ indicator is trading in oversold zone and hence we are anticipating a pullback move in the
counter. Hence, we advise traders to buy this stock at current levels and on declines to ` 508 for a
target of ` 551 in coming 14 to 21 trading sessions. The stop loss for this trade set up can be kept at `
490.
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January 22, 2016
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419 - 416
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808
-
906
Target Achieved
Source: Angel research
Research Team Tel: 022 - 4000 3600 (Extn. 6552) Website: www.angelbroking.com Email: [email protected]
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