Friday, June 13, 2014

Arvind: Continuing Uptrend

On May 6th, Sudarshan Sir pointed out in his post ' Catch the trend' on how strong uptrend is Arvind in. It been more than a month since then, but the trend continues, along with the markets.

A look at its recent chart gives us one more example of a classic formation of a trading range, and a breakout of the same:image
The momentum seems so strong that even on a day as today's, when Nifty fell over a hundred points, Arvind holds its breakout price above 208-2010 on a closing basis. No one can predict if it will continue to hold the same, or break down. But it definitely calls for our attention!

1 comment:

Rohit said...

Dear sir

price making higher high, but if you see RSI it is making lower high, there is a divergence, i think does not hold higher levels

anil