Buy Century Textiles; target of Rs 310: IIFL

IIFL is bullish on Century Textiles and has recommended buy rating on the stock with a target of Rs 310 in its April 2, 2013 research report.
 
“Century Textiles on the daily chart has signaled breakout from ‘falling wedge’ above Rs290 in yesterday’s session. The stock also broke above its 10-DMA which earlier acted as steady supply zone, and closed above it. Any pullback to retest the breakout point (Rs290) should be viewed as a buying opportunity with better risk reward ratio. The daily RSI is indicating positive crossover, thus reinforcing positive trend in the counter. (Duration 5 days),” says IIFL research report.

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