Lanco Infratech can test Rs 25-26: Chaturmohta

Lanco Infratech can test Rs 25-26, says Ashish Chaturmohta, VP Derivates and Technicals, IIFL Private Wealth Management.

Chaturmohta told CNBC-TV18, "In last 5-6 trading sessions Lanco Infra has been trading in a range between Rs 20 to Rs 22 on upside and during this range we have seen a good amount of open interest build up, so that is clearly indicating that the consolidation has happened with accumulation on long side."
He further added, "I believe that break out above Rs 22 is quite likely. Once that happens I believe Rs 25 could be the upside target. So one can initiate a trade with long at current levels and keep a stoploss of Rs 20 on downside and look for a target of Rs 25-26 in the next 2-3 trading sessions."