The short-term outlook is bullish for Vardhman Textiles is bullish. The stock has begun the week on a strong note by surging over 4 per cent on Monday. Strong supports are at ₹520 and then in the ₹505-₹500 region. Moving average cross overs also strengthens the bullish case. It indicates that any intermediate dips will be limited. Considering the momentum, fresh buyers are more likely to come into the market at lower levels. Vardhman Textiles share price can rise to ₹570 in the coming weeks. Traders can go long now at ₹530. Accumulate on dips at ₹522. Keep the stop-loss at ₹505 initially. Trail the stop-loss up to ₹537 as soon as the stock goes up to ₹545. Move the stop-loss further up to ₹555 when the price touches ₹563. Exit the longs at ₹570.

Video Credit: Businessline

(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)