Arvind Limited (ARVIND) Stock - Complete Technical Analysis - Oct 18, 2024

Arvind Ltd Stock Technical Analysis: Key Support and Resistance Levels Explained

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions.

Arvind Limited (ARVIND) is trading at 360.25, maintaining a comfortable distance from its 52-week low. Recent trading sessions have shown volatility, with prices fluctuating between 354 and 376. The stock's Moving Averages, both exponential and simple, indicate short-term resistance levels around 368 to 380. Meanwhile, long-term support hovers around 335. The Relative Strength Index (RSI) of 41 suggests a neutral position, leaning towards a potential oversold condition. However, the MACD remains bearish, indicating caution is warranted. Stochastic indicators show higher momentum, suggesting possible short-term upward movement. The ADX reading signals a weak trend, so traders should be on the lookout for breakouts. A move above resistance levels with high volume could signal a strong bullish reversal. Critical support zones lie at 354 and 338, with the potential for further downside if these levels are breached. Traders are advised to monitor market conditions closely and watch for changes in momentum to capitalize on short-term movements.