The short-term outlook for the stock of Century Plyboards (I) is bullish. The support is at ₹651, the 21-Day Moving Average (DMA) with the immediate trendline resistance at ₹705. The chances are high for the stock to break above ₹705 and rise to ₹745 in the next couple of weeks. A corrective dip to ₹710 cannot be ruled out. But, the stock is likely to break above ₹745 and reach the target of ₹790-₹800 in the next one month.
Traders can go long at the current levels and accumulate on dips at ₹658. Keep the stop-loss at ₹628. Move the stop-loss to ₹705 as soon as the stock moves up to ₹735 and further to ₹730 when touching ₹760 on the upside. Book profits at ₹785.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
![comment](https://assetsbl.thehindubusinessline.com/theme/images/bl-online/1x1_spacer.png)
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.