With the development of fusion research, in the next generation tokamak like SST1 and ITER the tokamak discharge duration time of the order of 1000 sec is planned. At the same time acquisition of rapid changes of plasma parameters during discharge is required and this demands for higher sampling rate to acquire the data. Hence a large size of RAM (memory) is required to fulfill the above requirements but normally CAMAC based digitizer has limited on-board RAM which can be emptied only after the buffer is completely filled. Therefore, acquisition period is dependent on sampling frequency of the signal as well as on existing size of RAM. This drawback of above is overcome in this design of CAMAC based digitizer where we are using combination of FIFO memory and RAM to get continuous lossless acquisition as well as transient acquisition. This paper includes design of 4-channel CAMAC digitizer with 32 K samples RAM per channel for on-board storage and 8 K samples FIFO per channel for continuous acquisition. The module can be operated in different modes like monitoring, transient acquisition and continuous lossless acquisition with selectable sampling rate