Above Rs 100, Arvind can test Rs 135-140: Shruti Vora

Above Rs 100, Arvind can test Rs 135-140, says Shruti Vora, Technical Analyst, Equity and Derivative group, Antique Stock Broking.

Vora told CNBC-TV18, "On the monthly chart you see Rs 100 is a very, very stiff resistance for Arvind. I think obviously because of the rupee depreciating the stock has been pretty strong. My sense is that once the stock sustains above the Rs 100 levels on the closing basis the next particular point on the stock is straightaway close to Rs 135-140 odd levels."
She further added, "Currently the indicators on the monthly charts are pretty strong with the RSI clearly tending upwards. But I do feel that it will possibly consolidate somewhere closer to Rs 94 and Rs 100 before another move on the upside."