Dr Reddys Labs can cross Rs 2100: Ashish Chaturmohta

Ashish Chaturmohta of Fortune Equity Brokers told CNBC-TV18, “We are comfortable going long in Dr Reddys Laboratories because if you look at in terms of the open interest data from the beginning of the settlement we have observed almost 70 percent rise in the open interest."

He further added,"The open interest was in the range of 5 lakh shares at the beginning whereas now it has moved to almost 8.5 lakh shares and the price rise is almost negligible. So there is a good accumulation happening between this Rs 2100 to Rs 2030 level. So ideally we are expecting the stock to cross this Rs 2100 level and can see a move towards Rs 2150 in this settlement. On the downside one can keep a stop loss below Rs 2040 for an upside target of Rs 2150."