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Last Updated : Jan 24, 2018 11:15 AM IST | Source: CNBC-TV18

Buy ITC, Bharti Airtel, GAIL India: Manoj Murlidharan

According to Manoj Murlidharan of Religare Securities, one can buy ITC, Bharti Airtel and GAIL India.

CNBC TV18 @moneycontrolcom

Manoj Murlidharan of Religare Securities told CNBC-TV18, "We are working on the concept of VWAP which is volume weighted average price because this is rollover and this is a time when we will actually see those positional calls followed by a follow up buying where the rollover still consists."

"ITC tops the list. I guess this stock has breached, it has broken that Rs 260-270 levels after maybe almost a 3 months and we are expecting the stock to inch towards Rs 322 which is a positional target. But we believe our trading target should be buying ITC at Rs 273 with a stop loss of Rs 265 and we are expecting an immediate target somewhere close to Rs 288."

"The second stock we like is Bharti Airtel because in last three months, we have seen some value buying which is coming in and it has maintained that VWAP concept if you look in to the quarterly basis. So, we believe around Rs 490 we should be a buy. Let say that Rs 484 should be the stop loss and we are expecting somewhere close to Rs 504, he added.

"We believe that the Bank Nifty might not really outperform the market at least in the next couple of days because it comes to a ratio of 2.4, so we are expecting oil & gas to take that place. So, GAIL India might be and ONGC of course, so GAIL would be a trading bet at this point to buy at Rs 472. We believe the stop loss should be Rs 466 and we are expecting the stock to touch somewhere close to Rs 488 which should be target in the short term," he added.
First Published on Jan 24, 2018 11:11 am
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