Aurobindo Pharma, Piramal Health can move up: Murlidharan

Murlidharan told CNBC-TV18, “This is a market wherein we are seeing the cash ratio stock at 1:2, so we are following those stocks which is seeing good delivery based buying and that has to exceed at least five day average. So I guess the top of the list would be Aurobindo Pharma at Rs 113, keep a stop loss at Rs 110 and we are expecting close to Rs 119 on that.”

He further added, “Second is Piramal Health . We are seeing good volumes in Primal Health and we are waiting to be sure that the cost of carry is positive so that we can see good delivery based buying. I guess that should be the second stock that can move and it is somewhere close to Rs 503-504. Rs 496 should be a good stop loss and somewhere close to Rs 523 should be the target in that.”