Arvind Ltd on a daily chart stock price has formed
the inverted hammer pattern, indicate stock price will reverse after falling
two days. It would be a reversal for stock price, buying happen yesterday at
lower low which give confirmation for buy. Also on daily chart this week stock
price has given breakout at Rs. 333 level of ascending triangle pattern and
price is trading near the breakout which add bullishness for the stock price.
If one were to go by the
volume data, a higher upswing is seen on the stock price. Trader or investor
can accumulate at Rs. 333 for the target of Rs. 355/363 levels, with Rs.324
stop loss on closing basis.
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