Century Textiles is showing signs of short term trend reversal as strong resistance building around 1150-1155 Zone. More over the price action points to trend exhaustive trade setups. Price acceptance below 1140 will bring more weakness towards 1120 and 1100 levels.
CENTURY TEXTILE IS IN UPTREND SINCE LAST 15 DAYS ALMOST. ITS INCHING UPWARDS NON STOP WITHOUT ANY SIGNIFICANT CORRECTION.
PRICE IS FOLLOWING CHANNEL SINCE LONG TIME . RALLY SHOULD FIZZLE OUT SHORTLY. ONE CAN GO SHORT IN OPTIONS AS TIME DECAY WILL YIELD GOOD PROFITS. HOWEVER THOSE WHO WANT TO GO SHORT IN FUTURES OR SPOT 890 IS GOOD LEVEL TO GO SHORT WITH SL OF 900
keep in your portfolio, buy whenever there is a fall. don't invest all amount at a point, invest at various support levels, so that loss will be averaged.....
Stock price touched trend line resistance and rejected from there at the same time RSI also showing bearish diversion so go short. Entry stop loss and targets given on chart.
HIT LIKE IF YOU LIKE THIS TRADE SETUP I REALLY APPRECIATE THAT.
TRADE WITH CARE.
REGARDS
KING999
