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Last Updated : Nov 15, 2017 11:13 AM IST | Source: CNBC-TV18

Buy Indiabulls Real Estate, GAIL India; short Muthoot Finance: Manoj Murlidharan

Manoj Murlidharan of Religare Securities is of the view that one can buy Indiabulls Real Estate and GAIL India and can short Muthoot Finance.

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Manoj Murlidharan of Religare Securities told CNBC-TV18, "We like Indiabulls Real Estate and because it is in the ban, we recommend buying in the cash market. We have seen excellent build up and believe the concept of volume-weighted average price (VWAP) works very well for this month of November. It might possibly extend till December as well."

"At Rs 220 odd levels, we would recommend buying and the stop loss should be somewhere close to Rs 207 and the short-term target for this stock seems somewhere close to around Rs 252."

"We have seen some cash buying, so we believe it might be a matter of days where we might see the level of distribution close to Rs 255-252 which will be the target," he added.

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"The second stock we like is GAIL India,  there is good long build up and we believe the momentum of a follow up buying can certainly come in, in today’s trade as well. At Rs 455 is what we recommend buying on current futures. Keep stop loss of Rs 442 and we are expecting the target of distribution to be somewhere close to about Rs 477," he said.

"We would be shorting Muthoot Finance, the range has been Rs 480 to Rs 420 on the downside, and every time it goes towards the upper side of the range we see a short build up coming. So, we believe that even at this levels of Rs 455 there can be shorting which can be done and the stop loss should be Rs 472 and the target should be somewhere close to Rs 410-420 for short-term," he said.

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First Published on Nov 15, 2017 11:12 am
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