Arvind Industries is a textile based firm. The stock is 2nd highest gainers amongst the F&O stocks in the last one week showing rise of 5.5%.
Open Interest too has declined marginally on rising prices, which indicates profit booking is yet to take place. Today also, the stock was rising steadily before RBI dovish policy pulled the markets down.
Another positive indicator has been Open Interest in 85 Calls and 90 Calls which have seen strong accumulation on Friday and yesterday.
The stock can be purchased around 82.5 Rs with stop-loss can be placed at 79 and target levels of 85 Rs. and 89 Rs (ref diagram below).
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