Arvind Ltd Near multi Year breakout , its an potential upside candidate for an month.
It will test the 52 Week High and Breakout with volume or It will form an Double Top
But if the breakout is successsfull with heavy volume the it will got to Target 270+
Disclaimer: This stock idea is only for educational & research purposes and is in no way a professional...
There is a breakout given by ARVIND from cup & handle formation on the weekly chart and it has been retested today on breakout zone on the daily chart also. So, I think we can see more upside levels on this counter.
Breakout Zone is :- 81.35-84.50.
Targets :- 96-110-120
Support zone is around :- 75.00. Stop loss as per risk appetite.
Cmp - 88
Stop - 60 on DCB
T1 - 150
T2 - 400, Review at 150
Expected Holding Period - 120 trading days or earlier for T1
Ideas being shared only for educational purpose
Please do your own research or consult your financial advisor before investing
Short Arvind below 404. Stock has broken a uptrend and will continue it's main trend which was down. An hourly candle closing below 404 will confirm break. You can short it then target of 385 with stop loss at 410. Just look for an hourly candle closing below 404 and then enter.