WEEKLY TECHNICAL ANALYSIS OF ARVIND FOR 16-20 JAN 2017

“BUY arvind ABOVE 375 TGT 388/395 SL 362”

FOR MORE CALLS FILL UP THE FORM GIVEN HERE>>>>>

After showing correction from the higher level, now stock is trading in short term recovery phase, it is likely to continue the upside move in near term with the crossing of the resistance level of 375 as the stock is managing to sustain above the level of 375. One may get the targets of 388,395 in the stock with the stop loss of 392.22&55 and 200 EMA act as a support levels with RSI 60.

MARKETS FLAT, NIFTY STRUGGLES NEAR 8,400

Sensex opened the week at 26741, made a high of 27257, low of 26711 and closed the week at 27218. Thus it closed the week with a gain of 459 points. At the same time the Nifty opened the week at 8266, made a high of 8457, low of 8241 and closed the week at 8420. Thus it closed the week with a gain of 152 points. Technically,Nifty would see strong support at 8380-8355-8335-8300-8280/8250 whereas strong resistance would be seen at 8455-8478-8500-8525-8544-8600 levels.