Watch the interview of Ashish Chaturmohta of Fortune Equity Broker with Reema Tendulkar & Anuj Singhal on CNBC-TV18, in which he shared his readings and outlook on market and specific stocks.
Below is the verbatim transcript of Ashish Chaturmohta's interview with CNBC-TV18.
As far as YES Bank is concerned this stock is trading at its all time high and we have seen a very significant addition in terms of open interest build up. The stock was consolidating for last five days after marking its all time high. So definitely there are lot of shorts which will try to cover up their positions and it has already crossed Rs 690.
The stock has the potential to target Rs 720-730 in the next three to four trading sessions. Keeping a stoploss of Rs 680 one can initiate a long position at current level.
Tech Mahindra is trading at its all time high and we are seeing good accumulation happening in a range between Rs 2,550-2,650. We are looking for a target of Rs 2,750 on upside whereas on the downside one can initiate long position with a stoploss of Rs 2,620 for a target of Rs 2,750.
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