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...
It's possible that Arvind 0.99% has completed it's A-B-C correction and is on it's way to join the major trend. The above could be a possible path ahead. A fall till the 61% Fib level could be a great place to buy for the move up.
THERE IS TWO SCENARIO IN DIS STOCK IF TREND LINE NOT BROKER AND REVERSE THEN BUY AND IF TREND LINE BROKEN THEN ONLY SELL.
HIT LIKE IF YOU ARE AGREE WITH MY VIEW & FOLLOW ME FOR MORE UPDATES AND IDEAS. I REALLY APPRECIATE THAT.
TRADE WITH CARE
REGARDS
KING999
ARVIND has been in trend reversal after a long bearish downtrend since weeks. Now we can expect the continuation of a bullish uptrend. with a target of 300 and a stop of 278.5. It has taken the support on the previous structure level and from here we can expect trend continuation.
