Arvind
Arvind (CASH) had a wonderful rally for almost 5 months. Now it made a high of 156 and correcting. It looks we have much more long targets for the stock. Stock is moving in a channel for last 4 months.If stock moves out of this channel braking down below the channel trend line then we expect a deeper correction. Otherwise, finding a support at 138 - 140 levels may lead to another rally till 170 - 180 levels.
In FUTURES Hourly chart also stock is moving in a channel.140 looks like the support for the stock. If broken we may see a deeper correction till retracement levels at 135/128/121. If support is found at channel bottom then we may see another round of run up till above 160 levels.RSI looks oversold in hourly futures at CMP. So we can expect a pull back in the stock futures .
Arvind (CASH) had a wonderful rally for almost 5 months. Now it made a high of 156 and correcting. It looks we have much more long targets for the stock. Stock is moving in a channel for last 4 months.If stock moves out of this channel braking down below the channel trend line then we expect a deeper correction. Otherwise, finding a support at 138 - 140 levels may lead to another rally till 170 - 180 levels.
In FUTURES Hourly chart also stock is moving in a channel.140 looks like the support for the stock. If broken we may see a deeper correction till retracement levels at 135/128/121. If support is found at channel bottom then we may see another round of run up till above 160 levels.RSI looks oversold in hourly futures at CMP. So we can expect a pull back in the stock futures .
Today's arvind price is 142.70 with profit of 0.75 (+0.53%)points. please tell me next TG and SL.
ReplyDeleteStock Commodity Tips
Keep trail SL the profitable trade. Let market decide when to exit.
ReplyDelete