Buy Arvind at around Rs 280: Mithil Pradhan

Mithil Pradhan of Violet Arc Global Managers told CNBC-TV18, "Arvind basically is into a virgin territory completely. So, it is very difficult to take a call on where it will resist or where it would stop ideally. This is only a correction, 28 points loss in Arvind today is not much a concern which would tell me to reverse my bullish opinion on the stock."

"I am basically looking at levels at around Rs 280-270 which is again the trend decider for this level. Ideally this should come when Nifty approaches 7800 levels. So, I would still suggest that if Arvind is available anywhere around Rs 280 levels one should look at buying it," he added.