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Buy Century Textiles; target of Rs 385: Aditya Birla Money
Aditya Birla Money is bullish on Century Textiles and has recommended buy rating on the stock with a target of Rs 385/400 in its July 4, 2011 research report.
Aditya Birla Money is bullish on Century Textiles and has recommended buy rating on the stock with a target of Rs 385/400 in its July 4, 2011 research report.
"Century Textiles, prices traded on a firm note and have broken out of the resistance of short-term falling trend line amid good volumes in Friday's session. Hence current positive tone could extend and test the next resistance near Rs 379 and then Rs 387 (200-day EMA and previous pivot high respectively) in the forthcoming trading sessions. The 14-day RSI and Stochastic (14/3/3) are again rising above the equilibrium indicating fair strength in current rally and would be supportive for the same. On the downside, trend line breakout level of Rs 361 and then the Rs 352/348 zone acts as good support. Only an early close below the latter will negate the upside potential and turn the short-term sentiments mixed to weak. Buy Century Textiles initially above Rs 367.50 and then on any dips to Rs 361, stop loss Rs 352.50, target Rs 385/400," says Aditya Birla Money research report.
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