Century textile has been a strong contender for traders choice in volatility. Stock is today showing strength to give a double bottom breakout signs. Currently stock is trading exactly at Neckline around 465 and risky positional traders should take some risk at CMP. Indicators on daily chart are also showing signs of short covering  from the oversold zone. So all the factors are supporting that this breakout should be confirmed and we shouldnt miss the bus. We will face a short term resistance around 100 Day Average around 530. So keeping that in mind we should trade.

Recommended Strategy:

Buy Century Text with tgt of 525-530.  SL: 450

One thought on “Century textile positional trade

  1. Pingback: Century Textile | Kush Ghodasara, CMT CFP CFTe

Leave a Reply

Your email address will not be published. Required fields are marked *