The latest analysis and commentary by stock market guru Ashish Chaturmohta of Sanctum Wealth Management on what is moving the markets today.
He also spoke at length on Ashok Leyland, Tech Mahindra, UPL, and TVS Motor.
Ashish Chaturmohta’s F&O strategies are, “One of the stock which we have identified which has seen a very sharp correction is Ashok Leyland. This stock has seen almost 50 percent correction from the top. If you look at last three trading sessions there is a good amount of delivery activity which we are witnessing at lower levels. Ashok Leyland is one kind of a stock where I would like to do some kind of bottom fishing with a stop around Rs 78, stock has a potential to see Rs 85-86 kind of levels in next 3-4 trading sessions. Tech Mahindra is a one stock which is seeing a significant amount of open interest addition post its results. The stock has been trading near its all-time highs for last 4-5 trading sessions. Any dip there is a good opportunity to initiate a long in Tech Mahindra. My stop loss would be around Rs 795 and I am expecting stock to hit Rs 840-850 kind of zone in next couple of trading sessions.”Disclaimer
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