There are two important things to observe in this chart, an expanding diagonal C wave within wave 1 and an extended wave 3. Since wave 3 is extended, wave 5 can be equal to wave 1. If an extension is put up, we see that wave 5 can end just ticks above wave 3 which in my opinion, happens often when wave 3 is extended. Anyway, the bottom line is, we can expect to see bullish momentum till 340 levels from here on. So stay positive about Arvind mills and look to buy at retracements and breakouts on a smaller timeframe. Since this is a weekly chart, I expect the viewers to switch to 1 Hour charts to take trades. Look for July/August derivatives and take trades. I wish you the best of luck.
Trade well :)
Trade well :)