Go long in Arvind, says Ashish Chaturmohta

Ashish Chaturmohta of Fortune Equity Broker told CNBC-TV18, "In Arvind we are seeing a very strong recovery from lower levels. Yesterday the stock has seen a build up of almost 8-9 percent on the long side. Today also it is holding above critical resistance zone of Rs 292-293. So, the stock has given a breakout on the daily and weekly charts with a very strong build up of long positions indicating that we may see a fresh round of rally in the stock from current levels."

"One can initiate a long position keeping a stoploss below Rs 287 and on upside we expect the stock to give minimum 10-12 percent and reaching a target of Rs 330-332 in next three to five trading sessions," he added.