Arshiya is trading sideways since last six months forming horizontal trading channel. On 2nd Jan it took support from lower trend line of the channel and broke all its key moving averages except 200 DMA. Stock is likely to move in sideways trend in next few sessions till it breaks the channel on either sides.
Traders can buy this stock at CMP (129.9) or in every dip above 125 for the short term target of 145-150.
Stock may face some resistance as it failed to break 200 DMA below which it closed yesterday.
Stop loss at 122 recommended.
