March 02, 2017
Arvind Ltd. (NSE Cash)
BUY
` 374
` 387- 390
` 417
14 - 21 sessions
Daily Chart
Source: Falcon (Time: 10:00 IST)
Justification:
In last couple of months, this stock has been consolidating a narrow range. The higher degree trend for the stock is
positive and thus, the consolidation seemed to be a time correction within an uptrend. In today’s trading session, the
prices have given breakout from the consolidation phase with good volumes. Also, the ‘RSI’ oscillator is trading above 60
on short term as well as longer term charts. Hence, we are expecting the stock to resume the uptrend and move higher
in near term. Thus, we advise traders to buy this stock at current levels to a decline up to `387 for a target of `417
over the next 14 to 21 sessions. The stop loss should be fixed at `374.
Ruchit Jain
022-3935 7600 Extn: 6554
[email protected]
1
March 02, 2017
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Source: Angel Research
Research Team Tel: 022 - 4000 3600 (Extn. 6552)
Website: www.angelbroking.com
Email: [email protected]
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