Century Textile looking good: Somil Mehta, Sharekhan

Somil Mehta, Sr technical Analyst, Sharekhan, in a chat with ET Now talks about textiles.

What is your vies on textiles? Do you like anything here?

Textiles are looking extremely good. Century Textile is, overall, looking extremely good and volumes have been increasing. Today I think we have already got a breakout on Century Textile from an inverted head and shoulder pattern and also a small triangular pattern on the right shoulder.

So I think from here, 510 or 520 would be a good target in the short term. In the medium term perspective, I think it is starting a new move on the upside, 600-620 would be the target.