Sell Arvind between Rs.266.75 & Rs.272 :: HDFC Securities

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Current Observation:
 The Arvind Ltd as per daily timeframe chart is showing a bearish trend as the stock price has declined as per
negative sequence of lower highs and lower lows.
 The recent upside bounce back of the last couple of sessions seems to have ended and the stock price has started to
show fresh weakness from here.
 The couple of session’s pullback rally was displaying a lack of strength to move up and this could be an indication of
strength of bears in the stock price.
 The daily momentum oscillator like 13 period MACD has turned down through its signal line below the equilibrium line
(zero line). This could be an indication of weakening momentum.
 The negative chart and momentum pattern are indicating a fresh sell trade in Arvind Ltd for near term.

LINK
http://www.hdfcsec.com/Share-Market-Research/Research-Details/StockReports/3010631