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B. Krishnakumar

Century Textiles (Rs 229.7): The stock is in a short-term corrective phase. It could drop to the immediate support level at Rs 218-220 range.

The long-term trend is, however, bullish. The stock is likely to resume the long-term upward trend on the completion of the expected short-term correction.

Shareholders may remain invested with a stop-loss at Rs 206. Investors may consider fresh long positions on price weakness, with a stop-loss at Rs 206. A close above Rs 238 would be a positive trigger and fresh exposures (with a close stop loss) may be considered subsequently. Partial profit booking may be considered when the share price moves to the target zone of Rs 265-270 range.

Arvind Mills (Rs 112.7): Though the long-term outlook is bullish, the stock is yet to complete the short-term corrective phase. The share price has declined below a couple of minor support levels last week. It is now hovering close the crucial support level at Rs 108-110 range.

A close below Rs 106 would impart further weakness and the stock could drop to Rs 90-92 band. Holders of long positions may look to reduce exposures and consider fresh exposures at lower levels. Shareholders with a higher risk tolerance may remain invested with stop-loss at Rs 107.

Investors willing to take risk may consider short positions on price recovery, with a stop-loss at Rs 118. The short-term bearish view would be negated if the share price closes above Rs 120.

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