Buy Arvind 330 Call, says Chandan Taparia

Chandan Taparia, Derivative & Technical Analyst at Anand Rathi Securities told CNBC-TV18, "We are expecting Arvind to move towards Rs 335-340 levels. Now the risk reward ratio is not favoring, that is why we are suggesting to go for option. We are suggesting to go for 330 Call, keep the stoploss near to Rs 7 and this call also can target to Rs 20."

"We have seen the huge delivery volume in Arvind. In the last series, this stock has seen the rollover of 83 percent and also adding open interest by more than 15 percent. In the last four to five trading sessions which is indicating fresh buying and the delay volume happening even at the higher levels and that is why we do not want to miss the next round of momentum in this stock. That is why we want to play with the 330 strike Call," he added.