Buy Arvind; target Rs 365: Bhavin Desai

Bhavin Desai of Motilal Oswal Securities told CNBC-TV18, "We would be buying Arvind. It is a little over-exuberance if we see just the recent move but just defocus it a little bit and go back a little to zoom out and you will see about a year or so it has not been doing much. There was a 100 point range in which it has been moving and this consolidation seems to have broken out and with volumes. So that gives us a belief that despite the fact that you have the momentum indicators in the overbought zone. There is no sign of exhaustion and chances are that we might see this particular move getting propelled further.""So with this fact and the fact that we have hit an all time high recently. So keeping the tiny stoploss of Rs 335, we are looking at a target close to Rs 365 on Arvind," he added.