Tape has formed Cup & Handle.
It is drifting sideways near pivot near 21 EMA with very low volumes indicating supply absorption.
Pivot buy at 932.5
Not an investment/trading advise.
Publishing for my own reference
Century textiles broke out of multople tomes strong resistance & is trading above congestion resisted zone.
Could b bought with mentioned sloss & tgts.
Trading idea for the stock
Buy: 892
Target: 955
Stop loss: 863
Profit: 3774
Loss: 986
Risk/Reward: 1:2.17
Quantity: 34
The stock has formed a double bottom on the daily time frame and gives a very good opportunity to enter the trade at above 892 levels
R1 - 894.83
R2 - 916.42
R3 - 948.33
S1 - 841.33
S2 - 809.42
S3 - 787.83
Century textiles has broken put from a wedge like pattern. I am looking at it for a short term trade. Targets marked in blue. although i am looking at short term, Century is a leader in textiles and also has the largest single location paper plant in INDIA.
Century textile trading just near to all time high and also forming a rounding bottom pattern. 640-660 is a resistance zone, if it breaks then level of 790 is possible
Disclaimer - this is just for educational purpose and not a trading or investment advise
