Daily Renko Charts (Brick size: 1.97) & Supertrend Combination are giving a buying position for NSE:ARVIND for next week. One can enter a bullish position in Future/Options for August Expiry. As its a Renko charts, I will not give any stop loss or Target profit. However, I will update about the SELL signal to exit from such position.
Comment
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This BUY signal is further confirmed by a 'Bullish Divergence' on Stochastic Oscillator.
Trade active
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Arvind opened already at high 432.5 (3% gain). I guess one should wait for a rational price of 427 to enter in position. The government may raise (Today) import duties on imported clothes, which is giving a spike in this stock.
Order cancelled
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Never knew there was a Q1 result scheduled for Monday. Volatility spoiled the trend. Canceling this trade.