Buy Arvind Mills in 35-36.5 range: Angel Broking

Shardul Kulkarni, Sr. Technical Analyst, Angel Broking, in a chat with ET Now talks about Arvind Mills and Godrej Industries.

You have got Arvind Mills and Godrej Industries that you are recommending a buy on it with target of almost 39 on Arvind Mills. What is the chart pattern there?

If you specifically see the chart of Arvind Mills, it has given you a breakout a couple of days back. It is consolidating in that band between Rs 35 on the lower side and 36.5 on the higher side. So it is a consolidation zone and you can buy in this particular range and play stop losses at 34.50.

On the higher side, you can look for targets of 39 and later on about 42. Godrej Industries is again showing you similar patterns. Looking at 160 being a very important level for Godrej, 154 will be your stop loss and at around 180, you can book your profits. We expect that the small-cap and mid-cap stocks will give you better returns in the index rather than the large cap ones.