Chart Update: Century Textile

Century Textile chart:

From line chart it can be seen that stock price is trading close to its long term support line. Daily charts are highly oversold and have huge positive divergence.  Friday price closed above its 5dEMA.

Resistance :

• Trend line resistance: 286-287
• 5dHEMA: 285.5
• 5wLEMA : 285

So, it can be concluded that 285-287 band will act as resistance. Above 287 it will have confirmed breakout of price channel marked in candle stick chart. Conservative buy can be considered above 287 with loss of 284.5.

So,plan your trade accordingly. 

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All the views and contents mentioned in this blog are merely for educational purposes and are not recommendations or tips offered to any person(s) with respect to the purchase or sale of the stocks / futures. I do not accept any liability/loss accruing from the use of any content from this blog. All readers of this blog must rely on their own discretion and neither any analyst nor any publisher shall be responsible for the outcome.