Arvind Mills - Will it see the Light

Arvind Mills, after having bottomed at 52, has started to look back. The following are things that needs to be looked at in the near future.

• This stock too has formed a near symetrical triangle. The stock is moving in a nice range for the past month. The MACD has shown a positive divergence and the RSI is also in a comfortable zone.
  
• The stock's volume is giving an indication of a 'wait and approach'. The volumes are falling in this movement.
  

Given the huge fall in volumes over the past few days in the NSE, I would suggest to wait before taking an exposure in this segment.

This call too remains inconclusive because of the inherent formation of the chart. Let me work on others to see where we can invest our money.