ARVIND LIMITED
- ARVIND LIMITED is moving in a up channel formation as shown in graph no 1, this indicates as long as stock moving in a up channel formation it will be favored by bulls. And sharp down move is expecting if Arvind comes out from its formation on down side. Close watch.
- As per graph no 2, stock is holding its 50 days moving average, by looking closely chart indicates that from last 6 times stock took its 50 DMA support and stock moved up, even this time also Arding is testing it support, If arvind closes and stays below 50 DMA then stock will give first sign of weakness.
- As per graph no 3 stock will find strong trend line resistance around 245 and 247.50, if stock closes above its trend line resistance then Arvind will find next strong resistance around 277 its 161.8% fibonacci retracement.
- Intraday close watch once Arvind starts trading above 245, if holds above in day trading then intraday bulls action is expecting.
- Suggested Reading - IOC facing golden ratio resistance at current levels, further strength expecting if closes above.
- Click here to see all the free trading reports (tips) published by us on ARVIND LIMITED.
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