August 01, 2016
Arvind Ltd (NSE Cash)
311 - 308
14 - 21 sessions
Source: Falcon (Chart Time: 09:50 IST)
The stock is moving in uptrend by maintaining ‘Higher Highs Higher Lows’ on daily chart. From last few
sessions, the stock has seen decent correction and has reached towards its support of ’89 EMA’ on daily chart,
which coincides with the 38.20% retracement level of the entire up move from 233.15 to 241.34. The stock
has made three ‘Doji’ candles around the mentioned support zone (see exhibit), which can be a reversal
trigger for the counter. The ‘RSI’ oscillator is moving near its support of 40 levels and showing positive hidden
divergence on daily chart, indicating strength in the counter. Considering the above technical evidences, we
are expecting resumption in up move in the stock
traders are advised to buy the stock at current levels
and on declines upto
308 for a target of
337. The stop loss for the trade set-up can be kept at
August 01, 2016
Last 8 recommendations
Recom. Buying/Selling Range
CMP Target 1
786 - 781
M & M*
1462 - 1456
228 - 225
Source: Angel Research
*Dividend of Rs 12 adjusted
Research Team Tel: 022 - 4000 3600 (Extn. 6552) Website:
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