Arvind: Wait for decline to enter, says Kulkarni

Shardul Kulkarni of Angel Broking is of the view that, one can wait for decline to enter in Arvind. The stock is in a good strong higher top higher bottom cycle but to enter at this price is not justified.

Kulkarni told CNBC-TV18, "Arvind, after a 7% rally I would generally wait for a decline to buy into the stock because the risk to reward ratio is not favourable. So, at this point of time if someone who wants to enter then the stop loss for the trade would be at around Rs 91 and Rs 91 stop loss when the stock price is already at Rs 99 is more than a 10 percent stop loss. So, I would wait for a decline. Stock is in a good strong higher top higher bottom cycle but to enter at this price is not justified."