The upmove has gained momentum for Century Textiles & Industries. The inventory has surged over 5 per cent on Tuesday breaking out of a key resistance at ₹2,420, which has been capping the upside since July this 12 months. That leaves the outlook bullish. The area between ₹2,440-₹2,420 will now act as a powerful resistance-turned-support degree and restrict the draw back. Shifting common cross overs on the each day chart additionally strengthens the bullish case.
Video Credit score: BusinesslineCentury Textiles & Industries share worth can rise to ₹2,740 within the subsequent few weeks. Merchants can go lengthy now at ₹2,510. Accumulate on dips at ₹2,460. Maintain the stop-loss at ₹2,370 initially. Path the stop-loss as much as ₹2,560 as quickly because the inventory strikes upto ₹2,620. Transfer the stop-loss additional as much as ₹2,640 when the value touches ₹2,680. Exit the lengthy positions at ₹2,720.
(Be aware: The suggestions are based mostly on technical evaluation. There may be threat of loss in buying and selling.)
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