Buzzing stocks-CENTURYTEX stock below 860 has target at 815

CENTURYTEX stock technical analysis CENTURYTEX stock technical analysis Century Textile and Industries Ltd stock is trading at 841 with loss over 6%. CENTURYTEX stock is top loser in F&O segment. From short term view, CENTURYTEX stock is in downtrend and given bearish breakdown at 920 rupee level. On downside 860 and 812 are support as well as short term target and both almost go achieved on Election Day sell off. Currently stock resumed downtrend and slipped below 860 rupee level and heading for target 812.   Stock future traders holding shorts in CENTURYTEX stock future trail stop loss just above 860 and expect target of 812 rupee. Below 812, stock become super bearish and might test levels of 752 and 705 rupees. Stock option traders can buy and accumulate on decline in CENTURYTEX 840 put options with stop los for big short term gains. Today this tock put option rallied from low near 10 rupee to high of 38+ in intraday.   From medium to long term view, stock has achieved its medium to long term targets of 770and 935 and now entered in to correction phase. On downside 770 and 625 are support as well as target zones.

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Pramod Baviskar

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