#CENTURYTEX gave a BO out of the range on the back of the strong volume. It has been in the consolidation for the past few weeks on a low volume and with this BO, I expect the stock to continue the upward move.
Date : 30-03-2024
Buy CENTURYTEX above 1624
Target of 1735-1840-2055
SL 1273
Strategy : SBO + RSI > 60 + EMA above 20 & 50
Duration few weeks
Please consult your financial advisor before investing
All research for educational purposes only.
Stock is ready to cross past barriers with good volumes
Volume buildup in daily and weekly time frame.
Resistance turns support from 1330~40 zone.
Taken support 3 times from the above mention resistance zone.
Breakout of darvas box setup, wait for retest for conformation.
Note: I do my analysis, do yours before trade.
Volume buildup in daily and weekly time frame.
Resistance turns support from 1330~40 zone.
Taken support 3 times from the above mention resistance zone.
Breakout of darvas box setup, wait for retest for conformation.
Note: I do my analysis, do yours before trade.
📊 Script: CENTURYTEX
📊 Sector: Paper
📊 Industry: Paper
Key highlights: 💡⚡
📈 Script is trading near at middle band of BB.
📈 MACD is giving crossover.
📈 Double Moving Averages is giving Crossover.
📈 Right now RSI is around 58.
📈 One can go for Swing Trade.
⏱️ C.M.P 📑💰- 1491
🟢 Target 🎯🏆 - 1598
⚠️ Stoploss ☠️🚫 - 1438
⚠️ Important: Always maintain your Risk &...
Potential swing trade opportunity in CENTURYTEX - Daily timeframe. There is a potential upside of up to 16% in this next leg of swing within the pattern.
im excepting a slow upside movement. which is higher high higher low. we can expect this to come down till 1340. hence buying oppurtunity in every dip. these are my views.
Reason for long
a) Mr.14 set up
b) consolidation breakout
c) weekly breakout
d) QQE support
e) super vwap breakout
f) channel support
g) SL compulsory
First target is 1:1 and for 2nd target SL need to be shifted to entry point. (For 1st target 60% Qty unloaded and for 2nd target remaining qty. This help us to maintain at least 1: 1.5 in several occasion)
The light blue rising support line has been respected by the stock multiple times,
Taking the level as support, it has formed a small Double Bottom Pattern,
The slow rise in volume after the bounce from support, and during the bullish leg provides confirmation.
For a short term trade,
tgt is 1203 and sl is 1098.
Coming out of consolidation of almost 2 years. Volumes went dry during this consolidation.
Textile sector on the other hand showing strength.
935-1024 shall now act as good support. If it manages to close and sustain below these zone then our view stands invalid.
After breaking the ATH level of 1024 it went into 7 week consolidation and past 3 weeks it has...
