The latest analysis and commentary by stock market guru Ashish Chaturmohta of Sanctum Wealth Management on what is moving the markets today.

He shared his views and readings on V-Guard Industries, Larsen and Toubro, and Cholamandalam Finance.

Chaturmohta recommended a buy on V-Guard Industries. “Stock is on the verge of a strong breakout on weekly and monthly chart frame. So, Rs 235 would be my trading stop loss and upside I am expecting stock all-time high zone and can target somewhere around Rs 262 kind of levels in next couple of trading sessions,” he said.

“In the capital good basket, Larsen and Toubro (L&T) is showing a very strong traction, “Chaturmohta said. “Last 4-5 days it has been consolidating near its 52 week high, but I think if you look at Rs 1,540-1,545, there is a strong support in the stock. So, keep that as a trading stop loss and upside Rs 1,620-1,630 could be a short term target one can expect in L&T,” he added.

“Cholamandalam Finance after hitting a 52 week high is seeing some consolidation for last three trading sessions. However, on dip around Rs 1,510-1,515 is a good opportunity to initiate a long. Rs 1,510 would be my trading stop loss and upside Rs 1,590-1,600 is a short term target one can expect in Cholamandalam Finance,” Chaturmohta said.

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First Published:Jun 6, 2019 9:36 AM IST