June 07, 2016
Arvind (NSE Cash)
` 318
` 310 - 312
` 295
5-10 sessions
Daily Chart
Source: Falcon (Time - IST 09.40)
Recently, we witnessed a good recovery in this stock from the lows of 235. However, the stock seems to
be struggling around the weekly ‘Super Trend’ indicator, which is placed around 319.
In addition, last week, we witnessed a formation of ‘Dark Cloud Cover’ on the weekly chart; indicating,
probable correction in next few days.
Considering the ‘Lower Top Lower Bottom’ structure on hourly chart along with the negative placement
of the daily ‘RSI-Smoothened’ oscillator, we expect some profit booking in this stock.
Thus, we advise traders to sell this stock from current level to a bounce up to ` 312 for a target of `
295 in coming 5 to 10 trading sessions. The stop loss for this trade set up can be kept at ` 318.
June 07, 2016
Arvind (NSE Cash)
Last 4 recommendations
Recom. Buying/Selling CMP Target 1 Target 2 Stop-loss
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Booked at 3190
Source: Angel Research
Research Team Tel: 022 - 40003600 (Extn.6552)
E-mail: [email protected]
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