Mehul Kothari recommends Arvind Fashions, CAMS as top 'Diwali' picks

According to the technical analyst from Anand Rathi, Arvind Fashions can rally to Rs 440, while CAMS can surge to Rs 3,650 within a year's time.

DIWALI PICKS

BUY

Arvind Fashions

Buy Near: Rs 310

Target: Rs 440

Stop Loss: Rs 230

In the calendar year 2021, Arvind Fashions rallied more than 150 per cent in a matter of just three months (from Rs 135 it went above Rs 360-mark). Thereafter, the stock corrected 61.8 per cent of the entire move and has been consolidating.

At this juncture, the stock is again on the verge of fresh breakout and that indicates a continuation of the prior uptrend. We have been witnessing heavy volumes in the counter with bullish price action and that suggests the possibility of accumulation. Investors can buy the stock within