Technical Outlook & Trading Strategy:-
The share price of Arvind had been consolidating sideways in the narrow range Rs 84 - Rs 89 levels since the past few sessions.
With the smart gains in today’s session the price now has given a break-out above this consolidation rangewith an increase in trading volumes.
We believe that these breakouts augur well for the stock price and could propel it to levels of Rs 94 – Rs 95 / Rs 98 in near future.
We recommend buy at current levels and again on pullback to the levels of Rs 89.20 – Rs 88.70 with a stop loss placed below Rs 86.80 levels.
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