Buy Biocon, IDFC: Manoj Murlidharan Vayalar

Manoj Murlidharan Vayalar of IIFL told CNBC-TV18, "This is a time we know that the results will start commencing and obviously the entire IT pack comes into different volatility. I would rather not look into IT stocks, but we are looking into stocks where there is cash based buying which has happened of late in the last two trading sessions where the net buying has come into the cash market. We would try to look into those stocks, because in case of a sell-off there will be a consistent buying which should come in and the weighted average price of these stocks will act as a support"

"Biocon tops the list. I would rather buy Biocon at this point of time and Infrastructure Development Finance Company (IDFC). Biocon Futures is somewhere close to Rs 344. Go long in that and keep a stoploss of Rs 338 and a move till Rs 358 is what I would expect in that. Second would be IDFC which is at Rs 93. We can go long in it. Stoploss will be at Rs 88-89 and a target of Rs 99 is what we are looking on that," he said. Also Read: Biocon partners with CytoSorbents to market CytoSorb Disclosure: We have mentioned these stocks to our clients, but no personal holdings in these stocks.