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Published on 5/12/2018 4:27:51 PM | Source: Choice Broking Pvt Ltd

Buy Century Plyboards India Ltd For Target Rs.196.00 - Choice Broking

Posted in Broking Firm Views - Short Term Report| #Trading Report #Century Plyboards Ltd #Choice Broking

 

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*  On an hourly chart, the stock has given a breakout of its Cup and Handle formation which suggests a bull run in the counter.

*  On a daily chart, the stock has given a breakout of its downward sloping trendline which indicates that the stock may go up in coming trading sessions.

*  Additionally, the stock has started to trade above its 50 Daily Simple Moving Average which indicates an upside rally in the counter.

*  A daily momentum indicator RSI reading is at 60.45 level with a positive crossover which points out for a positive breath in the stock.

*  Based on the above technical structure, we are expecting a good upside movement in the counter in few trading sessions.

Recommendation

Buy Century Plyboards (India) Ltd @ 180.00-181.50 Stoploss 173.25 Target 196.00

 

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