Century Textiles and Industries Limited Stock Forecast
Green day on Friday for Century Textiles and Industries Limited
(Updated on May 17, 2024)
The Century Textiles and Industries Limited stock price gained 4.00% on the last trading day (Friday, 17th May 2024), rising from ₹2,082.65 to ₹2,165.95. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 5.18% from a day low at ₹2,067.85 to a day high of ₹2,174.90. The price has risen in 6 of the last 10 days and is up by 10.41% over the past 2 weeks. Volume fell on the last day by -215 shares and in total, 17 thousand shares were bought and sold for approximately ₹37.56 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at ₹2,156.40, a level that may pose a second chance to hit a runner. According to fan-theory ₹2,426.28 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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CENTURYTEX.BO Signals & Forecast
The Century Textiles and Industries Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₹2,036.03 and ₹1,844.14. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, May 07, 2024, and so far it has risen 17.52%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Century Textiles and Industries Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹1,843.00 and ₹1,832.40. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Century Textiles and Industries Limited finds support just below today's level at ₹1,843.00. If this is broken, then the next support from accumulated volume will be at ₹1,832.40 and ₹1,632.50.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹107.05 between high and low, or 5.18%. For the last week, the stock has had daily average volatility of 4.39%.
Our recommended stop-loss: ₹2,096.64 (-3.20%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (CENTURYTEX.BO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Century Textiles and Industries Limited to open at ₹2,136.23, and during the day (based on 14 day Average True Range), to move between ₹2,073.52 and ₹2,258.38, which gives a possible trading interval of +/-₹92.43 (+/-4.27%) up or down from last closing price. If Century Textiles and Industries Limited takes out the full calculated possible swing range there will be an estimated 8.53% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹1,843.00, some ₹322.95 (14.91%) from the current price of ₹2,165.95, our system finds the risk reward attractive.
Is Century Textiles and Industries Limited stock A Buy?
Century Textiles and Industries Limited holds several positive signals and has broken the strong rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 7.875 Strong Buy Candidate Unchanged
Predicted Opening Price for Century Textiles and Industries Limited of Tuesday, May 21, 2024
Fair opening price May 21, 2024 | Current price |
---|---|
₹2,136.23 ( 1.37%) | ₹2,165.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CENTURYTEX.BO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2,243.28 | 3.57 % | |
R2 | 2,202.39 | 1.68 % | ||
R1 | 2,177.13 | 0.516 % | ||
Current price: | 2,165.95 | |||
Support | S1 | 2,095.34 | -3.26 % | |
S2 | 2,070.08 | -4.43 % | ||
S3 | 2,029.18 | -6.31 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 2,165.95 | |||
Support | S1 | 1,843.00 | -14.91% | |
S2 | 1,832.40 | -15.40% | ||
S3 | 1,632.50 | -24.63% |
CENTURYTEX Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jul 17, 2023 | Jul 17, 2023 | Aug 26, 2023 | ₹5.00 | 0.497% |
2 | Jul 06, 2022 | Jul 06, 2022 | Aug 17, 2022 | ₹4.00 | 0.461% |
3 | Jul 28, 2017 | Jul 28, 2017 | Sep 08, 2017 | ₹5.50 | 0.426% |
4 | Jul 18, 2016 | Jul 18, 2016 | Jul 18, 2016 | ₹5.50 | 0.83% |
5 | Jul 15, 2015 | Jul 15, 2015 | Jul 15, 2015 | ₹5.50 | 0.771% |
FAQ
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