Century Textiles & Industries Limited
Century Textiles & Industries Limited seems to have made a prudent long-term investment as it continues to grow and achieve new heights.
Please take a moment to go over and comprehend the Century Textiles & Industries Limited daily chart. The chart indicates that Century Textiles & Industries Limited has performed admirably thus far, is a wise investment in the 2420–2440 zone, and has enormous development potential.
Kindly consult the daily chart that Century Textiles & Industries Limited has supplied. The stock is currently trading above horizontal resistance and rising swiftly after breaking out of the 2420–2440 area. According to the study, Century Textiles & Industries Limited is in great demand right now at 2500. The chart below shows the anticipated upside open range until 3150 to 3200.
- After achieving a notable breakthrough in the 2420–2440 zone, Century Textiles & Industries Limited has expanded and is currently a great long-term investment opportunity.
- Century Textiles & Industries Limited has an opportunity to expand and may reach the targets of 3150 and 3200 because of its outstanding location.
- Right now, the 2420–2440 price range is the greatest place to purchase this stock because the risk–reward ratio is suitable for cash transactions.
- The chart shows that the stock has broken out of an ascending triangle pattern, with a target price range of 2420 to 2440.
For your reference, kindly find the Century Textiles & Industries Limited daily chart attached. On the daily chart, demand is observed in the 2420–2440 price area, along with an upward breakthrough and horizontal resistance. The stock rises as a result of this strong demand.
Given the recent top of the stock, this appears to be an excellent time to purchase at the current price. Thus, keep an eye out for the horizontal resistance to break. As of this writing, the stock has increased even further and reached the anticipated targets of 3150 and 3200.
The rising triangle served as the foundation for Century Textiles & Industries Limited; the pattern's most recent goals are located between 3150 and 3200. One chart pattern utilized in technical analysis is the rising triangle. At the swing high and low, price variances produce a horizontal line and a rising trend line, respectively. Triangle is formed by these two lines.
Given the tremendous demand for the stock, investors might be looking for long-term buying opportunities in the 2420–2440 range. This stock should gain value during stock market downturns because of its outstanding risk-reward profile. Seize the opportunity to get this stock. During any recession, put money into this company; it has a lot of potential.
Cash-rich investors might purchase the relevant portion of the stock, aiming for levels between 3150 and 3200 and placing a stop loss at 2220.
A rapid rise and target hit could push the stock or instrument to high volume and upside if there is no price volatility prior to a large increase. A pattern known as a Volatility Contraction Pattern (VCP) is frequently sought after by traders and investors. Please visit our website and download the Fx Careers app from the Google Play Store for more details about VCP patterns. Additionally, we demonstrate how accurate the pattern identification is.
Century Textiles & Industries Limited's daily chart shows both resistance and support. All levels are shown on the spot chart.
|
Century Textiles Limited |
Support |
Resistance |
|
Level 1 |
2420 |
3150 |
|
Level 2 |
2220 |
3200 |
Company Profile: Century Textile and Industries is an Indian company based in Mumbai that produces and ships textiles and paper goods. The main commercial activity is the manufacturing of cotton textiles, yarn, denim, tire cords, caustic soda, sulfuric acid, salt, pulp, and paper. Furthermore, the business operates in the international textile markets and exports its products to more than 45 nations.
Century Textiles & Industries Limited is an ISO 14001 and IS/ISO 9001:2000 compliant company. The Indian government also named it a "Three Star Export House."
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