How To Trade Canara Bank, CEAT, Century Tex, Cummins and HDFC Life

Stock is in downtrend and currently trading around trendline support. Further, daily chart shows formation of a bearish pattern called Head and Shoulder, however the confirmation is awaited till breach of neckline. Once stock sustains below 265 we can expect targets of 210-200, minor support exists around 235-230. On holding 265 stock can move towards 300.

CEAT 

Stock is in downtrend and has formed a bearish pattern called Head and Shoulder on daily charts. Once trades and sustains below 1448 stock can show sharp decline towards 1370-25 to 1270-10 and below that 1150-950 will be the final targets. If holds current levels 1520-80 will be first resistance and longs should be initiated only above 1600.

Century Textile

Stock is trading range bound and has already corrected almost 50% of entire rally from 218 to 1024. However still no buying interest is visible on charts. Stay away at current level and wait for 550-20 for any investment.

Bearish engulfing patten on daily chart is indicating further downside. Sell below 1560 for 2% to 10% decline in coming days.

HDFC Life 

Stock is in continuous downtrend for last six months. Stock has support near 470-65  below that 430-380-340 will be major support. Trade long above 520.