Arvind (cmp 300) has been the outperforming stock in broader market in last one year. The stock has given returns of 200% in lat one year. Recently the stock corrected almost 80 points from its high of 341 & completed 61.8% retracement of last up move after sideways correction in July.
It looks like the stock has made a short term bottom near 265 & ready to go further upwards to new highs above its high of 341. So we recommend going long in the stock at cmp for targets of 323 & 352 with stop below 285.
Stop triggered in Arvind
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