Buy Lupin, like Ajanta Pharma: Manoj Murlidharan

Manoj Murlidharan of Religare Securities told CNBC-TV18, "We would be focusing more on pharmaceutical as a sector at 9,980 on the CNX Pharmaceutical. We feel that the last three months of underperformance that is done with the Nifty, we are seeing good traction in terms of volume based average price buying. So, Lupin tops the list. If you see Rs 1,258 to Rs 1,270 was the previous levels of accumulation and we believe the stock has come to that level. It is an excellent buy at this point of time. So, we would recommend buying even the May futures at let us say Rs 1,270 with a stop loss at Rs 1,230 and we are expecting a good move possible 70-80 points on that. So, somewhere close to Rs 1,350 should be the first target."

"We like Ajanta Pharma as well. That is a buy and we are recommending that to buy at Rs 1,665 with a stop loss of Rs 1,630 and we are expecting a good move of Rs 70-80 on that also, somewhere close to Rs 1,720-1,730 as a target on that," he added.