Divis Lab can touch Rs 780-790: Ashish Chaturmohta

Ashish Chaturmohta, VP Derivates and Technicals, IIFL Private Wealth Management is of the view that Divis Laboratories can touch Rs 780-790.

Chaturmohta told CNBC-TV18, "Divis Lab, Raymond or Hindustan Lever are the counters where very strong addition of build up has been seen in last three-four trading sessions and if these stocks are able to hold above their critical resistance levels for a day or two then a lot of short covering can be seen. So Divis Lab is one counter where Rs 780-790 levels could be seen in a day or two. So I believe Rs 748 should be kept as a trading stop loss for going long in the counter."
He further added, "Raymond is one counter which is continuously holding above Rs 390 to Rs 400 levels. For last four-five trading sessions here I believe lot of shorts covering their positions can be seen and which will lead to a move towards Rs 430-435 levels in the next two-three trading sessions."