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The short-term outlook is bullish for Century Plyboards (I). The stock has been consolidating within its overall uptrend between ₹650 and ₹694 for more than two weeks now. The chances are high for the stock to break this consolidation on the upside and resume the uptrend.
The level of ₹635 will be a good support below ₹650. A decisive range break out above ₹694 can take stock price up to ₹750 over the next three-four weeks or even earlier than that. Traders can go long now. Accumulate on dips at ₹655. Keep the stop-loss at ₹625. Trail the stop-loss up to ₹685 as soon as the stock moves up to ₹702. Move the stop-loss further up to ₹715 when Century Plyboard (I) share price touches ₹725. Exit the long positions at ₹745.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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