Buy Arvind, says Sudarshan Sukhani

Buy Arvind with long term view, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "ICICI Bank and the Nifty need to be called together. If the Nifty does finally breakout, I think ICICI Bank will breakout, go above Rs 1,200 and interesting part is then its targets will be Rs 1,350-1,400. It is going to contribute to the Nifty’s rally, so independently also the percent gains in ICICI Bank will be more than that on the Nifty and traders would be well justified to go long in it. One just needs to wait for the Nifty to give that signal."
He further added, "Arvind is one of the stocks we have been tracking since it started its upmove at Rs 80. It is not over yet. The big moves, the big thrust that we see like the one we saw yesterday tells us that the uptrend is intact."
"Ideally for short-term traders you do not want to buy it today after that big upmove but for anyone else building a position in Arvind is justified at any levels, including current levels. For short-term traders, you want to wait for those corrections, dips, your entry prices should always be as favourable as possible but the trend is up, so the direction for trading is well-known. It has to be go long in it."