Jitendra Panda, MD & CEO at Peerless Securities told CNBC-TV18, "I believe in the last two-three days the rollover on the positive side in Arvind has been continuous and aggressive. Today also not only the rollover in March, in April also we have seen some rollover happening. So we believe Rs 160 should be there somewhere around the corner. If someone is still entering now, should keep the stoploss of Rs 146 where there could be a small support and Rs 160 should be the target that we see in the March series on Arvind."
At 12:27 hrs Arvind was quoting at Rs 150.75, up Rs 3.20, or 2.17 percent. It has touched an intraday high of Rs 151.20 and an intraday low of Rs 147.75.
The share touched its 52-week high Rs 156.50 and 52-week low Rs 65.00 on 08 January, 2014 and 08 August, 2013, respectively. Currently, it is trading 3.67 percent below its 52-week high and 131.92 percent above its 52-week low. Market capitalisation stands at Rs 3,892.01 crore.
Disclosure: Analyst has recommended Arvind and Titan to his clients and personally does not have any positions.
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