Go long in Aurobindo Pharma: Ashish Chaturmohta

Dec 16, 2013, 02.14 PM IST

Ashish Chaturmohta of Fortune Equity Broker recommends going long in Aurobindo Pharma as the stock may test Rs 345-350.

Tags Ashish Chaturmohta, Fortune Equity Broker, Wockhardt, Aurobindo Pharma

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Ashish Chaturmohta of Fortune Equity Broker recommends going long in Aurobindo Pharma as the stock may test Rs 345-350.

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Go long in Aurobindo Pharma: Ashish Chaturmohta

Ashish Chaturmohta of Fortune Equity Broker recommends going long in Aurobindo Pharma as the stock may test Rs 345-350.

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Ashish Chaturmohta of Fortune Equity Broker told CNBC-TV18, " Wockhardt story has been played out now in Aurobindo Pharma . Despite market correction we have seen a very significant addition in terms of open interest buildup in the stock. Despite stock sustaining at an all time high, we have witnessed almost 20-25 percent kind of addition in last couple of trading sessions. That clearly indicates that despite this weakness somebody is very aggressively accumulating the stock."

"I think Rs 345-350 will be a very short target in the stock but positionally it has a potential to move towards Rs 375-380 levels as well. So in short-term one can expect a target of Rs 345-350 levels. We are recommending a long call with a stoploss below Rs 315 in the stock," he said.

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