Prefer Tata Steel, may touch Rs 460: Ashish Chaturmohta

Ashish Chaturmohta of Fortune Equity Brokers told CNBC-TV18, "In the metals space we have witnessed good addition of open interest in Tata Steel and JSW Steel. Tata Steel has performed very well in the last two series and till now we have not seen any major liquidation of positions. In fact in January series we are seeing addition of open interest of almost 15-16 percent today. So clearly this stock looks good for a target of Rs 460 on the upside. In the short-term Rs 440-445 would be the possible target."

"If you look at overall January series then Rs 460-465 could be the possible target in Tata Steel. We are recommending a long position keeping a stoploss below Rs 422 on the January series," he added.