Century Textile
Century textile is trading in a perfect down trending channel with support at 385 and resistance at 404. Yesterday fall was backed by volumes, If stock is able to hold range of 380 can see a bounce back till 400 odd levels.
Buy above 392 Tgt 395,400 and 404 SL 389
Sell below 386 Tgt 382,379.5 and 376.5 SL 389
ITC
ITC formed a double bottom after breaking its long term trendline bounced above it and formed an Inverse Head and Shoulder pattern with trendline breakout at 306.8. Inverse Head and Should pattern target comes to around 340 in next 2 month time frame.
Buy above 308 Tgt 311,315 and 320 Sl 306
Sell below 303.5 Tgt 301,299 and 296 Sl305.2
Jain Irrigation
Jain Irrigation is again providing a trading opportunity, We have covered this stock before around 70 gave a target of 83 which got achieved,stock came down heavily after hitting 86,and now is at a important level 71 which is 100 SMA.As pointed by circles stock generally bounces from 100 SMA.
Buy above 72.8 Tgt 73.8,74.6 and 76.1 Sl 71.2
Sell below 70.6 Tgt 69.2,68.6 and 67.3 SL 71.2
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