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Century Plyboards India Ltd BUY technical
CMP: `205.60 (As on 02nd Feb, 2017) pick
Buy: `205-190
Target Price: `238-267 Century Plyboards India Ltd is largest seller of
Stop-Loss: `166 plywood and decorative veneers in the Indian
organized plywood market. The company
Century Plyboards India Ltd manufactures and sells plywood, laminates,
decorative veneers, pre-laminated boards, and
flush doors in India and internationally. The
company’s plywood segment provides plywood,
block-board, veneer, and timber. Its laminate
segment offers decorative laminates and pre-
laminated boards. The company’s CFS Services
segment provides container freight station
services. It’s others segment engages in the
trading of chemicals, minerals, and readymade
furniture and equipment. It also exports its
products. The company markets its products
under the brand name Centuryply. The company
exports its products to 20 countries that include
UAE, China, Taiwan, Bangladesh, Singapore,
Hong Kong, Saudi Arabia, France, UK, Germany,
Mexico, Canada and Switzerland, among others.
Technical Outlook:
On the weekly chart, we are witnessing that
prices have retraced the preceding up move by
88.6% Fibonacci level. Further, the momentum
Oscillator viz. the RSI is gaining momentum. At
present the current close is also well above the
200-days SMA. The above mentioned parameter
clearly suggests that upside momentum is likely
to continue.
Hence we recommend buying in stock at 205.60
on a decline up to Rs 190 with a stop loss of
Rs 166 for a target of Rs 238-267 levels.
5 ARIHANT CAPITAL ¡ FEBRUARY 2017
