Maruti Suzuki can touch Rs 1180: Murlidharan

Manoj Murlidharan Vayalar, Associate Vice President-Derivatives, IIFL is of the view that Maruti Suzuki can touch Rs 1180.

Murlidharan told CNBC-TV18, "I am not really bearish on Maruti Suzuki. After the news came the stock has corrected 8-9% odd but I still feel the important part is autos and textile, I feel this expiry we can see good rollovers happening. Though I am not bullish on entire pack but I feel Maruti does not have potential to go beyond Rs 1038, so Rs 30-40 points’ maximum on the downside. If you can keep a stop loss at Rs 1035 that would be a good level you can go long. It is at Rs 1080 now and towards expiry we are expecting Rs 1180 and close to Rs 1190."