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Last Updated : Feb 13, 2017 10:32 AM IST | Source: CNBC-TV18

Buy Arvind 390 Call, expect move towards Rs 415: Amit Gupta

According to Amit Gupta, Head- Derivatives at ICICIdirect, one can buy Arvind 390 Call and expects the stock to move towards Rs 415.

Amit Gupta, Head- Derivatives at ICICIdirect told CNBC-TV18, "Arvind from the textile space, post results has seen a good addition of long positions. Almost 35-40 percent of long additions has been seen in the stock. It has seen good volume pick up near Rs 376 levels and then it has closed near Rs 384. This particular momentum should continue in this. It has consolidated for almost a month near Rs 370-360 levels and then this move is coming up."

"We are expecting a move towards Rs 415 in this on the higher side. So, I am initiating a buy at 390 Call option because IVs are still low. So, one can benefit by buying Call option in this," he said.

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First Published on Feb 13, 2017 09:50 am
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