See 5-6% upside in IVRCL and Larsen and Toubro , says Ashish Chaturmohta, IIFL Private Wealth Mgmt.
Chaturmohta told CNBC-TV18, "If you look at the infra space lot of long position build up has been seen in counters like L&T, IVRCL or even in the midcap space Lanco Infra is the counter where we have seen a significant amount of long build up. But in terms of risk reward I think IVRCL and Larson and Toubro are two counters where a further upside of 5-6% is quite possible from the current levels. I think any dip of 2-3% is a good time to again enter long positions in both of these counters."
He further added, "Apart from that JP Associate in the midcap space is one counter which is looking very, very strong technically also and in terms of derivatives data the stock has seen a build up of almost 10-12% in last two-three trading sessions. So I believe that this is one counter where an upside of 10-15% is possible. One can initiate long positions at current levels and even on a dip of Rs 81-80 levels one can average the positions. Keep a stop loss of Rs 78 on a closing basis. On upside Rs 93-96 could be the levels which can be seen in next three to five trading sessions."
