Top trading pick by Ashish Chaturmohta

Watch the interview of Ashish Chaturmohta, Fortune Equity Broker with Ekta Batra & Reema Tendulkar on CNBC-TV18, in which he shared his readings and outlook on the Futures and Options (F&O) side of the market and Mahindra and Mahindra.

For the last seven weeks Mahindra and Mahindra has been consolidating in a range between Rs 1,270 to Rs 1,220-1,230. In the last four trading sessions we have seen very strong recovery from lower levels purely on the build-up of long positions. Even in terms of rollovers; we have seen very strong rollovers happening in the auto segment."

"M&M has the potential to move almost Rs 100 from current level. We are expecting a target of Rs 1,350-1,400 in next three-four trading sessions. However, on the downside Rs 1,260 should be kept as a trading stoploss,