The latest analysis and commentary by stock market guru Ashish Chaturmohta on what is moving the markets today.
He also spoke at length on UPL, SRF & Tata Chemicals.
Speaking about his trades for the day Ashish Chaturmohta said, “My first trade would be a long idea on UPL. Now it has made a 52 week high with a very strong derivative positioning. If you look at in terms of open interest today almost 9 percent addition has already been seen and despite the kind of volatility we are witnessing in the market this stock has somehow managed to sustain above its average trading price. So, this stock is poised for a strong move. Rs 848 would be my trading stop loss for going long in UPL and upside Rs 880 would be a very short term target but positionally I believe Rs 900 could be a short to medium target one expect in UPL."Disclaimer
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