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Last Updated : Aug 06, 2015 02:17 PM IST | Source: CNBC-TV18

Watch:Manoj Murlidharan & Deepak Shenoy's top trading ideas

Watch the interview of Manoj Murlidharan of Religare Securities & Deepak Shenoy of Capitalmind.in with Latha Venkatesh & Sonia Shenoy on CNBC-TV18, in which they shared their readings and outlook on market and specific stocks.


Watch the interview of Manoj Murlidharan of Religare Securities & Deepak Shenoy of Capitalmind.in with Latha Venkatesh & Sonia Shenoy on CNBC-TV18, in which they shared their readings and outlook on market and specific stocks.

Below is the verbatim transcript of Manoj Murlidharan and Deepak Shenoy  interview with CNBC-TV18:

Deepak Shenoy on textile stocks

The textile story has been fantastic for the last three months in Welspun India. We own Welspun, KPR Mill and couple of others. However, the story over here is that results have been really good in these sectors and with 35 to 40 percent year-on-year earnings increase have been considered underperforming in comparison. We like these stocks but a word of caution here is that we think the stock selection over here might end up. Choosing between overvaluation from a relative
perspective, Welspun even now is not at a 20-30-40 Price to earnings (PE), it is still marginally above 15 PE from a trailing basis. We would advise caution in
these names but we think that is the story that continues to propel in terms of momentum.


Manoj Murlidharan's top picks

Ashok Leyland

There is good buying happening in Ashok Leyland and we try to incorporate the concept of VWAP that is when you buy in the cash market, there is an average to the delivery that has been taken to the proportional long position in the derivative stock future. So for the current month it is a buy at Rs 87.5. The stoploss would be Rs 85 and we expect the stock go towards Rs 92.

Aurobindo Pharma


IT is one which would be buy at least for the next 365 days based on the risk reward that has happened in the last three years. Pharma is one sector which has almost come at a median in terms of the standard deviation of plot and Aurobindo Pharma is seen good cash buying. So we expect the stock can perform at least in a short-term, so that is why we are recommending to buy a current month futures around Rs 767. The stoploss we would recommend is Rs 752 and we expect close to Rs 803 which should be the target.

ONGC

Oil and Natural Gas Corporation's (ONGC) expiry was close to Rs 84.21 and we were trying to see what are the sectors where you have seen good position in terms of the sector weightage which usually gets carried in this month of August, so in oil & gas there was couple of stocks and ONGC is one which has been muted let us say in the last four to five sessions. However, we have seen that accumulation which has happened in the month of July has been neatly carried and the weighted average of the buying has not been distributed. This is a good indication that this stock might give you a good upmove and it might be possible that one day we might get a three to four percent on the upside. However, we cannot time it, so am still buying it at this level. It is a buy for August Futures, the price should be around Rs 268 that is where we recommend buying. The stoploss should be around Rs 258 and we are expecting levels of Rs 280-284 at least on stock.



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First Published on Aug 6, 2015 09:56 am
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