Friday, 16 March 2018

ARVIND IS IN SHORT TERM DOWNTREND


"SELL ARVIND BELOW 395 TGT 390/380 SL 406"

FOR NEXT UPDATE KEEP READING 

TECHNICAL VIEW:  Arvind Limited is a textile company. The Company's principal products/services are finished fabrics and garments.ARVIND is forming a bearish pattern in short-term charts, the Primary trend of the ARVIND is bearish. Strong Support level is seen on the daily chart at 392. , it is likely to show correction with the breach of the support level of 392, where one may initiate the short position in it for the targets of 380, while stop loss can be placed at 406.  as the stock is managing to trade BELOW its 22& 55 &200 days moving averages with the RSI of 42.  on the other hand After the breakout, the resistance level of 406 One may get the targets of 412/420 in the stock with the stop loss of 395.
DAILY CHART FOR ARVIND:




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