ARVIND LIMITED Share Tips, Technical Analysis Chart, Intraday Stock Trading Graph Advice - Stock closes above it major resistance, further strength expecting as long as stock holds above 245, previous resistance will now act as a major support for Arvind. (Updated on 21st August 2014, Thursday).

ARVIND LIMITED

• As per previous report published on Arvind Ltd, stock gave a sharp move after breaking its resistance @ 245 and so far made a high of 258. (Click here to see previous report published on ARVIND LTD).
• As per graph no 1, stock is still moving in a up channel formation , so as far stock moved in channel formation it will be favored by bulls, sharp weakness expecting only if Arvind breaks its up channel formation on down side.
• As per graph no 2 , technical indicates that stock has closed above its major trend line resistance , so as long as Arvind trades above 245 it will be favored by bulls, its previous resistance will now act as a major support, if stock closes and stays below 245 then it will show first sign of weakness.
• Suggested Reading - VOLTAS too closed above it major resistance, will favor bulls as long as holds above.
• A per graph no 3, stock is moving up from 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 Arvind is moving up, this will favor bulls.
• If Arvind moves up from current levels then on upper side will find next strong resistance around 277 its 161.8% fibonacci retracement, as shown in graph no 4.
• Click here to see all the free trading reports (tips) published by us on ARVIND LIMITED.
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