Sunday, October 21, 2012

century textile inverted HNS pattern

here is the weekly chart of century textiles.. Stock has made inverted head & shoulder pattern & ready to show some good upmove. price has also broken its 200 dma level & major resistance of 384 (neckline). long term investors can initiate buying into this stock... target is 384 - 214= 170 i.e 384 + 170 = 554.
cmp 400....
if u see my old posts, i had posted inverted head n shoulder pattern of financial technology.. its breakout level was 782 on 9th august. & stock made high 1040 from that level & completed the target. few days before tata motors also shown inverted HNS pattern & hit the target. such head & shoulder & inverted head & shoulder patterns have strong buying potential always. so i recommend buy on century textiles.