NIFTY VIEW
Nifty has its daily & weekly trend turned up, however, needs to cross now the crucial hurdle of 10,830-10,850. Bank Nifty continues with its weekly trend down. The support for the week is seen at 10,580 while resistance is seen at 10,900. Auto sector and FMCG continue to be in positive while other sectors, for now, show exhaustion.
BUY CENTURY TEXTILES
CMP: Rs 918.85
TARGET:Rs 1,000
STOP LOSS: Rs 870
The stock has witnessed a decent correction from the peak of 1265 to show signs of bottoming out at around 850 levels and currently has produced a bullish candle pattern in the daily chart to show strength and is poised for an upward movement in the coming days with the bias improving and turning out to positive. The RSI also has been hovering near the oversold zone and currently has indicated a steep rise to signify still more further rise and with decent volume participation witnessed, we recommend a buy in this stock for an upside target of 1,000 keeping a stop loss of 870.
No comments:
Post a Comment