Buy Arvind on dips, says Hemant Thukral

Hemant Thukral of Aditya Birla Money told CNBC-TV18, "Arvind had seen huge open interest (OI) additions yesterday. So I think it has seen 26 percent OI along with the delivery volumes that it has moved up and again the stock has managed to close on a new 52 week high."

"It managed to go pass Rs 245-250 zone, which was acting as a very stiff resistance. So, traders can take that resistance point as a stoploss level and I am looking at a target of Rs 260-265. For short-term traders, you can even look at it for smaller profits around Rs 255-265 zone but in any case, Arvind from these levels, small dip also should be utilised as a buying opportunity because it is showing strength both on OI as well as technical basis," he added.