Manas Jaiswal, technical analyst at manasjaiswal.com told CNBC-TV18, "I am quite bullish on Arvind because the stock has very strong support near Rs 136-137. This time also it has taken support there and witnessed good buying interest. Oscillators are showing positive crossover, so one may see some recovery in intraday. Stoploss should be around Rs 139.50 and target would be around Rs 146.50.
At 14:34 hrs Arvind was quoting at Rs 142.60, up Rs 5.50, or 4.01 percent. It has touched an intraday high of Rs 143.10 and an intraday low of Rs 136.75.
The share touched its 52-week high Rs 156.50 and 52-week low Rs 65 on 08 January, 2014 and 08 August, 2013, respectively. Currently, it is trading 8.88 percent below its 52-week high and 119.38 percent above its 52-week low. Market capitalisation stands at Rs 3,681.60 crore.
Disclosure: He does not have any personal positions in the stock but has recommended to his clients.
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