Buy Century Textile with price target of 231: CK Narayan

In a chat with ET Now, CK Narayan, Growth Avenues Asset Advisors shares his views about Century Textile.

ET Now: What is the call on Century Textile?

CK Narayan: Buy Century Textile as it has made double bottom at about 216 and is making an attempt to revive. So with a worst case stop loss is placed below 216 or a nearer one placed at about 218-219. I would suggest going long at about 222 where the current price is with an expectation of about 230. If the market were to be successful in reviving the stock, then the risk to reward profile will be much better and we could probably hold down for even longer.