The stock of Century Plyboards (India) tumbled 5.4 per cent on Monday, breaching a key short-term support level of at ₹330. This fall gives an oppotunity for the short-term traders to sell the stock at current levels. Following a medium-term uptrend from the September 2017 low of ₹236 to the January high of ₹363, the stock changed direction triggered by negative divergence in the daily relative strength index and price rate of change indicator. Since then, the stock has been in a short-term downtrend. While trending down, the stock decisively breached its 21 and 50-day moving averages and currently it trades well below them. With the recent fall, the daily relative strength index has entered the bearish zone from the neutral region and the weekly RSI has entered the neutral region from the bullish zone. The short-term outlook is bearish for the stock of Century Plyboards. The stock can extend its downtrend and reach the price targets of ₹310 and ₹303 in the coming trading session. Traders can sell the stock with a stop-loss at ₹330.

(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)

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