Arvind Mills – On a roll

The stock of Arvind Mills has been on a roll for the last few months and with today’s move, we have broken above the highs of 2005. Unlike many stocks which topped out in 2008, Arvind topped way before time in 2005 itself 0 talk about early bird catching the worm 🙂 

There is not much of any favorable news which is in the public domain which seems to suggest that whatever is driving the stock could be something for which we are yet to receive a memo. For the moment though, trend is very strong with the next big resistance being its all time high of 230 (a move of around 50% being required from current levels to test that).

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About Prashanth

Have been a full time participant in the stock markets since 1996. Run a Yahoo Group where focus is exclusively on discussions of the Indian Markets using Technical Analysis as the tool (groups.yahoo.com/group/technical-investor)
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