Century Textiles – Trade with Trendlines and Channels

Centex

Channels are very powerful trading tools check out old post for CANBK & FINANTECH. I always try to find out if there any price channel in formation. One such highly rewarding trade is shown in chart above.

Century Textile is at channel support.  Trend line support comes around 375 and 5mlema is at 371. Break of the same will confirm the channel breakout Conservative shorts can be initiated below the same with minimum sl.   Strength only at the break of newly formed red channel.

Author – Pattern Trading

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Sumit

I am trading in Indian equity market since 2008 also CMT level 1 certified. I upload all my studies regularly on Price and Volume & Facebook Page . You can follow the blog by registering your mail address in the blog. More From Sumit »

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    • Rajandran is a Market Analyst and founder of Marketcalls, one of the most intelligent blog in the world to share knowledge on Technical Analysis, Trading systems & Trading strategies.