Watch the interview of Ashish Chaturmohta of Fortune Equity Broker with Reema Tendulkar & Mangalam Maloo, in which he spoke about Futures and Options (F&O) side of the market, specific stocks and sectors.
Below is the verbatim transcript of Ashish Chaturmohta's interview with CNBC-TV18
UPL & Cipla
Individually in this fall of last seven trading sessions, we have observed lot of stocks where there was a lot of buying interest into the market particularly in the pharma space. In UPL we have witnessed strong build-up of positions and in the next series we are observing strong long rollovers. This is one stock where there can be some outperformance. We are recommending long position with a stop loss below Rs 415 and on upside I am expecting this stock to cross its all-time high and target around Rs 465-470 in the next couple of trading sessions.
In Cipla we are recommending long position because we are witnessing strong build-up as well as rollovers on the long side happening in most of the pharma names. Cipla was consolidating in a range between Rs 692 to Rs 710 and now we are witnessing a strong build-up happening above Rs 710. So lot of long accumulation is happening. On downside one can keep a stop loss below Rs 700 and on upside one can expect a target of Rs 770.
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