 "Derivatives strategy on Arvind Limited by HDFC Securities")
Derivatives strategy on Arvind Limited by Nandish Shah, Technical & Derivatives Analyst at HDFC Securities:
Buy ARVIND July Future at Rs 418
Stop loss of Rs 408
Target Rs 432
Rationale: Long build up is seen in Arvind futures’ yesterday, where We have seen sharp Rise in Open Interest with Price rise of 3.5%
Stock Price has given breakout on the daily chart where it managed to close above 200 day SMA with surge in volumes
Also Read
Stock price has already given bullish breakout from the downward sloping trend line, adjoining high of 9th May and 15th -June 2018.
Momentum Indicators and Oscillators like RSI and MACD are Indicating strength in the stock for the short to medium term.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%