Buy Canara Bank, HDFC, Ambuja Cements: Manoj Murlidharan

Manoj Murlidharan of Religare Securities told CNBC-TV18, "We like Canara Bank. We would still like to go with the futures at this point of time Rs 356 to 358. That is a price we recommend to buy that with a stop loss of Rs 349 and we are expecting a short-term target of close to Rs 373-375 which might be the VWAP of some distribution that might come in."

"HDFC, wonderfully it has, actually seen an accumulation and we believe the peak might be still a 60-80 points more. So, at this level, even yesterday if you see, it was more or less flat and it has closed almost at the VWAP of the entire day and that gives you good indication that we might see a surge here on. So, at Rs 1,600-1,604 we should buy with a stop loss of Rs 1,576 and we are expecting a target of Rs 1,660 in the short-term," he said.

"The cement sector has been muted at least yesterday. We generally try to see what the FIIs are doing and the difference that we see is the cash market buying or selling versus the stocks because that is the root how the appetite money comes in and then we focus on the sector where there is derivative money which is come in."

"So, I guess Ambuja Cements is one stock we can still buy because there has been accumulation yesterday and the stock has not moved much. So, we are expecting a follow up buying on that. So, at Rs 235, we recommend buying that with a stop loss of Rs 229 and we are expecting a short-term target of close to Rs 246-248. That should be the VWAP where some profit booking might come in," he added.