Century Ply - Above 275 -It can fly else it will feel shy!

Hello All,

08:38 Hrs - 20th Aug 2018

Last Price-226

Today, I have made an attempt to write about stock Century Ply- Shall refer this stock as Mr. Ply. This stock is also an amazing stock when it started its upside run from 12–15 base price to 80’s in 2007–2008.

Post 2008- Global Meltdown for Financial markets its upside was capped at 80’s & Mr. Ply struggled & spent hard times for next 6 years along with India Nifty to start its explosive journey in 2014 - when India had new dawn /new morning & we just came out of the dusk.

This dusk was the longest one seen so far by Indian Markets & finally year 2014 came with happy times.

Its almost 4 years -Mr Ply had a fly to 363 Highs forming double top which is strong resistance with reducing volumes indicated that higher prices above 263 was good to book & take home profits when you saw 360’s price zone getting restricted for almost 4 months -Jan/April 2018.

Short Term Scenario

Holding 224 which is double bottom can be support for upcoming sessions & push Mr. Ply to 255–265 zone where it will see resistance back.

If it faces resistance in 255–265 zone holding below 275 -can take the stock below 224 lows.

Moving above 275 - check long term strategy

Long Term Scenario

Unless Mr. Ply crosses above 275 - we won’t be interested or we look for support below 224 levels in 135–155 zone- a strong support zone for next set of big move upside.

Planning Your Next Moves

You should look to add this stock to your portfolio between 175–190 zone & rest in 135–155 zone for new upside beyond 363 highs.

Trade closed manually:

14:37 Hrs 23rd Aug 2018

Last Price@228

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