Avoid Kingfisher Airlines, says Manoj Murlidharan of IIFL.
Avoid Kingfisher Airlines , says Manoj Murlidharan of IIFL.
Murlidharan told CNBC-TV18, "Kingfisher is a totally avoid – I do not even track that. On Aurobindo Pharmaceuticals, if we do not see the Nifty breaching 5,380, this would be the scrip that would be seeing good momentum buying. Obviously needless to say we will see that happening in the cash market though still an Aurobindo we have not seen that, we are not going for a short or a long because it would decide on this sector."
He further added, " Cipla , Dr Reddys and Aurobindo are the three strips in this sector right from 5,130 the low which the Nifty made, we are seeing some distribution going on. So it was a hedge basically, the institutions or maybe the strong hands have taken in. So shorting it might be a bullish indication but at this point of time we would not recommend that."
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Market technically overbought; paper supply to weigh: Dutt