The latest analysis and commentary by stock market guru Ashish Chaturmohta of Sanctum Wealth Mgmt on what is moving the markets today.
He also spoke at length on Maruti Suzuki, L&T Financial Holdings and United Spirits.
“On the long side Maruti Suzuki is one stock which is seeing lot of stability in last few couple of trading sessions. We have seen multiples supports emerging around Rs 6,500-6,600 and from there on we have witnessed almost 8-10 percent kind of open interest addition in last couple of three trading sessions. One can initiate a long keeping Rs 7,040 as a trading stop loss and in short term timeframe Rs 7,230 is a short term target on can expect in Maruti. NBFC basket is showing good traction in last 3-4 trading session with in that L&T Financial Holdings, Can Fin Homes these are the few names we have been recommending on a consistent basis. L&T Financial Holdings data from Rs 142 to 154 we have witnessed very heavy long build up getting into L&T Financial Holdings. One need to keep very strict stop loss somewhere around Rs 148, but the chart pattern and the data is suggesting that there is a strong upmove which is possible in L&T Financial Holdings. On upside Rs 162 could be a short-term target one can expect in this stock.”Disclaimer
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