Arvind Ltd. (364.00) :
Arvind ltd is closed at 364 level. Stock has corrected from 423 and took support around 325 level which is 200 day EMA and bounced back to 364.
From last 5-7 trading sessions, the stock has shown up good price action in decline market. The stock is also trading above all short term moving averages.
One can initiate long position between 362-367 levels with stop loss of 330 (closing basis) for target of new 52 week high above 425 levels.
Arvind ltd is closed at 364 level. Stock has corrected from 423 and took support around 325 level which is 200 day EMA and bounced back to 364.
From last 5-7 trading sessions, the stock has shown up good price action in decline market. The stock is also trading above all short term moving averages.
One can initiate long position between 362-367 levels with stop loss of 330 (closing basis) for target of new 52 week high above 425 levels.