Chandan Taparia suggets bull spread in Arvind

Chandan Taparia of Anand Rathi Securities told CNBC-TV18, "We are positive on Arvind, it has recently taken multiple supports near Rs 275 and is making a sign of momentum towards Rs 310. It is adding a build-up of long positions and the support base buying interest, so recommending a bull call spread."

"Buy 290 Call and sell 310 Call in Arvind. In the entire state the risk is around 7 points and as per the expectation, if stock moves to Rs 310 then we will get profit of Rs 13. So, it is a better strategy, 1:2 is almost the risk reward ratio and the stock is standing near to the major support zone," he said.