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Published on 17/11/2020 2:40:21 PM | Source: HDFC Securities Ltd

Technical Positional Pick - Buy Arvind Fashions Ltd For Target Rs. 173 - HDFC Securities

Posted in Broking Firm Views - Short Term Report| #Textiles Sector #HDFC Securities #Trading Report #Arvind Fashions Ltd

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Technical Positional Pick - Buy Arvind Fashions Ltd For Target Rs. 173HDFC Securities

TECHNICAL OBSERVATIONS

* Stock price has given bullish breakout on the daily chart

* Stock price has formed multiple bottoms around 122 odd levels

* Oscillators like MFI & RSI is showing strength in the stock

* Short term trend of the stock has turned positive where stock price closed above its 8 and 21-day SMA.

* Considering the Technical evidences discussed above, we recommend buying the ARVIND FASHION between 129.65-132 and average at 121, for the upside targets of 146 and 173, keeping a stop-loss at 116

Buy Arvind Fashions Ltd @ 129.65-132 Up to 3 Months CMP 129.65 TGT 173 SL 116

 

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