Ascending Continuation Triangle is seen. Stock gave highest close after May 2018, highest volume after August 2020 were registered. The increasingly higher lows and constant highs within this pattern tell us that buyers are more aggressive than sellers, confirmed by a breakout through a resistance level to signal a continuation of the prior uptrend. Company...
SHORT TERM IDEA OF THE WEEK // Monday March 8th 2021 // NSE:CENTENKA
// This is a Short Term Investment Idea and not a swing trade call nor an intra-day trade. Please do not expect the stock to go up on the same day of posting or within a few weeks. Please follow the notes along with the posting before, during and after entering the trade //
CMP / LTP: 268.3
...
Best Time to buy this stock as it is breaking the resistance with huge volume + inverse head and shoulder pattern which is a indication of trend reversal
Strong supply zone near 200.
3 attempts to cross the zone have rejected sharply.
A bearish Gartley pattern has took shape in process...
Neckline of the formation is near 150s. it took support from there and now moving towards supply zone again,
We can go long till 200 and if it crosses the zone strongly , next targets would be 230.
T1: 200
T2:230
This stock is just rising with strong and it has potential to reach 400+ i am looking to buy on any drop near 321/323 with stop 298 for Target of 400+
NAME: CENTURY ENKA LTD
SEGMENT: TEXTILE
MARKET CAP:717.25 CR
EPS - 34.13
PE- 9.62
52 WEEK H/L - 454.40/249
BOOK VALUE - 393.79
CMP - 328.60
Positional trade
Regards
Stock is in Consolidation..Applied a Flag Setup and Fibonacci
Fibonacci levels 0.5 and 0.236 , Crossing any May decide direction of Stock
Keep a Watch..
Happy Trading
