Century Plyboards: Long Positional Trade Idea

Century Plyboards: Long Positional Trade Idea 🚀

Technical Setup:

Century Plyboards has shown a strong breakout above ₹860, reclaiming key resistance levels with good volume support.
The stock has formed a higher-high, higher-low pattern, confirming bullish momentum.
Entry Point:

Ideal entry above ₹865 for confirmation of the breakout.
Stop Loss:

Place a stop loss at ₹800 to manage risk effectively.
Target Levels:

Target 1: ₹925
Target 2: ₹975
Indicators:

RSI at 64 indicates strong bullish momentum without being overbought.
Short-term moving averages are aligned positively, indicating a continuation of the uptrend.
Risk/Reward:

Favorable with a strong breakout and volume confirmation.
Note: Monitor price action near ₹925, as it could act as a resistance zone.

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