Go long in Dr Reddys Labs, Lupin: Ashish Chaturmohta

Ashish Chaturmohta of Fortune Equity Brokers told CNBC-TV18, “If one looks at counters like Dr Reddys Labs , Lupin or Aurobindo Pharma there we are witnessing a strong build up of long position and despite market correction we are witnessing a very strong delivery based buying in these stocks and what we are recommending a long in Dr Reddy where we are looking for a target of Rs 2180 to Rs 2200 levels in the next two-three trading sessions. One can initiate a long position at current levels keep a stop below Rs 2090 in Dr Reddy.”

He further added, “Lupin, which is looking very strong after forming a base in the last 7-8 trading sessions and we have witnessed almost 7 percent addition in last three trading sessions in Lupin on the long side. Once it sustains above this Rs 760 mark then definitely Rs 800 could be the possible target in next 2-3 trading sessions in Lupin. One can initiate a long position with a stop below Rs 750 in Lupin as well.”