Ashok Leyland, Bharat Forge, Asian Paints, Century Textiles

Ashok Leyland, Bharat Forge, Asian Paints, Century Textiles

Jyothy Labs, Brigade Enterprises, Dalmia Cement, Century Textiles

Jyothy Labs, Brigade Enterprises, Dalmia Cement, Century Textiles

Century Textiles

Century Textiles

Century Textiles

Century Textiles

Today's Pick - Century Textiles

We recommend a buy in Century Textiles and Industries from a short-term perspective. From the charts of the stock, we note that it has been on an intermediate-term downtrend, since its 52-week high of Rs 1,275, recorded in early January 2008. However, the stock found support just above the key long-term support level of Rs 500, where the 200-day moving average is positioned and reversed. This reversal was very sharp and the stock surged up 7 per cent with above-average volume on Wednesday. We see that there is an increase in volume traded over the past two trading session. We notice a positive divergence in the daily relative strength index that indicates the short-term bullishness. The daily moving-average convergence and divergence is also displaying positive divergence thus supporting our bullish stance. We expect the stock to move up until it hits our price target of Rs 640 in the forthcoming trading sessions. Traders with short-term perspective can buy the stock, while maintaining stop-loss at Rs 550

via BL

Century Textiles

Century Textiles

Century Textiles

Century Textiles

Today's Pick - Century Textiles

We recommend a sell in Century Textiles & Industries from a short-term perspective. From the charts of this company, we note that it has been on a medium-term downtrend from its 52-week high of Rs 1,275 (marked on January 7). We also see that the price action from late January appears to be a descending triangle pattern that has negative implications since it means that sellers are getting impatient and entering at lower levels.

More recently, the stock penetrated the 200-day moving average and continued to decline. On March 3, the stock tumbled more then 5 per cent breaching the key support at around Rs 770, accompanied with good volume. Moreover, the medium-term down trendline is still in place. The daily as well as the weekly momentum indicators are featuring in the bearish zone. Our short-term outlook for the stock is bearish. We expect the stock to decline further to our target price level of Rs 650 in the impending days. Investors with a short-term perspective can sell (or book profits) the stock while keeping the stop-loss at Rs 832.

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Allied Computers, Financial Technologies, Reliance Capital, Suzlon Energy, Bharat Forge, Siemens, Jaiprakash Associates, Century Textiles, BPCL

Allied Computers, Financial Technologies, Reliance Capital, Suzlon Energy, Bharat Forge, Siemens, Jaiprakash Associates, Century Textiles, BPCL, Kirloskar Brothers, GAIL, Rathi Bars

Century Textiles has target of Rs 818

Anil Manghnani of Modern Shares & Stock Brokers is of the view that Century Textiles and Industries has target of Rs 818.

Manghnani told CNBC-TV18, "Century Textiles and Industries is a pretty good one. It has broken out yesterday again. Rs 702 were the previous stop for the stock. It has made a new high, which in this market, any stock making new highs seems to really propel further ahead. I think now it has headed towards Rs 950-960 levels, but one will get enough trading targets. The first trading target would be around Rs 739 and then about Rs 818."