Go long in L&T Fin, Kotak Bank, Jain Irrigation: Chaturmohta

Ashish Chaturmohta of Sanctum Wealth Management told CNBC-TV18, "I am recommending a long call on L&T Finance Holdings. It has been trading in the range between Rs 85-90 for the last couple of weeks and now it has given a fresh breakout above Rs 90 mark. We have observed a build up of almost 6-7 percent during this consolidation and since it has crossed Rs 90 levels, lot of shorts will try to correct their positions. One can initiate a long call at current level keeping a stop loss below Rs 87 and on upside, one can expect a target of Rs 97 level.""My second bet would be on Kotak Mahindra Bank. The stock has given a fresh breakout above Rs 772 levels and during this breakout we have observed an addition of almost five percent in terms of build-up and the open interest is clearly indicating that bulls are dominating. So, this stock has the potential to test its previous all-time high. One can initiate a long call keeping a stop loss below Rs 760 and on upside, one can expect a target of Rs 820 level," he said."My other bet would be Jain Irrigation Systems. It was an underperformer for last many months and Rs 75-76 levels used to act as a very stiff resistance for the stock for many months. Now, since the stock is hovering around the Rs 75-76 and we are observing lot of open interest addition as well as in last two series, we have seen very strong rollovers. It is clearly indicating that the trend in this stock is shifting towards higher side. So, one can initiate a long call keeping a stop loss below Rs 72.50 and on the upside, one can expect a target of Rs 81."