Buy L&T Finance, Kotak Bank, Britannia: Ashish Chaturmohta

Ashish Chaturmohta of Sanctum Wealth Management told CNBC-TV18, "First would be long call on L&T Finance Holdings. It has consolidated for two years and after this strong consolidation, it is given us breakout above this Rs 87-88 mark. Generally, whenever this kind of breakout happens and with a kind of volumes and open interest pickup in last two to three weeks, it is clearly indicating that this stock has a potential to cross its previous all time high. I would like to initiate a long with a small stop loss of Rs 86 and on upside would be expecting a target of Rs 95-96 in next one to two weeks. However, the positional structure suggests that this stock, once it sustains above Rs 94-95 has a potential to cross Rs 110 mark. So, this would be my first bet." "My second bet would be a long call on Kotak Mahindra Bank. If you look at in last four-five weeks, this stock is continuously consolidating in a range between Rs 800 to 740-750 on the downside. Despite weak markets in last two days, this stock is continuously making a base around this Rs 760 mark. So, one can initiate a long call at current level keeping a stop loss below Rs 750 and on upside, one can expect a target of Rs 815," he said."My third bet would be on FMCG name - Britannia Industries. After results, we have seen a major open interest addition in the stock. Today also the stock has seen a build up of almost 7-8 percent in terms of open interest and that to on a long side. So, clearly it is indicating that this stock has potential to cross its previous all time high. One can initiate a long call keeping a stop loss below Rs 3,120 and on upside one can expect a target of Rs 3,500 levels."