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2 Short Term Inventory Strategies

PAGEIND: Webpage Industries (NS:), the stock price was up by 392 details or 2.07 % to 19340 in the earlier trading session. The stock price is in a potent progressive trend forming larger tops and higher lows on the each day timeframe. Right after a healthful correction, the price motion shaped a robust bullish candle on the daily chart and shut around the days high with the good momentum. On indicator entrance, RSI is at 51 levels and may well gather strength in the trend, while the volume stays constant in the counter.  The inventory price, if it proceeds to hold over the support level of 18700 may perhaps test the upside of 20700-22500 in the short to medium time frame. We advise a long position that may be initiated in the stock at the present price and accumulate additional in the vicinity of 19100 degrees with a stop loss of beneath 18700 on a closing basis for the upside of 20700-22500.   CENTURYTEX: Century Textiles & Industries Ltd. (NS:), the stock price was up by 1.00 points or .32% to 312.65 in the prior trading session. Considering that its March 2020 lows, the inventory is in a robust consolidation section.The inventory price has currently damaged the range to the better side but fails to maintain the momentum retrace back in the direction of the time analyzed support line. On indicator entrance, RSI at 53 levels may possibly collect strength in the trend. The volume stays constant in the counter.The inventory is now using stiff resistance from 330 stages and if this resistance is taken off with conviction we may see a contemporary leg of obtaining in the stock.The elegance of this trade is it will be a better risk to reward ratio i.e close to close to 1:3 or even 1:5 when you average down the price.We suggest a long position that may perhaps be initiated in the stock at the current price and accumulate more nearer 305 concentrations with a stop loss of down below 290 on a closing basis for the upside of 355/395.

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