Go long in Shriram Transport: Ashish Chaturmohta

Ashish Chaturmohta of Fortune Equity Broker recommends going long in Shriram Transport Finance Corporation with a target of Rs 918 in the short term.

Ashish Chaturmohta of Fortune Equity Broker told CNBC-TV18, "We are quite bullish on Shriram Transport Finance Corporation . It has formed its all time high around Rs 1022 levels and in the last seven or eight weeks it has been consolidating between Rs 1000-850. At Rs 850-860 we have seen lot of long accumulation happening."

"In the last two trading sessions we have seen a open interest rising by almost 7-8 percent clearly indicating that now fresh round of strength is being visible into the stock. So one can initiate a long at current levels with a stoploss below Rs 890 where as on upside we expect this stock to target Rs 918 in short term whereas a positional side we expect this stock to cross Rs 1,040-1,050 mark," he said.

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