Book profit in Sterlite Ind at Rs 108-109: Vayalar

Manoj Murlidharan Vayalar, Associate Vice President-Derivatives, IIFL is of the view that one can see profit book in Sterlite Industries at around Rs 108-109.

Vayalar told CNBC-TV18, “Sterlite Industries to be one of those stocks where we have huge delivery. We have seen huge cash based accumulation happening. I feel now it is already up I guess 4% odd. So, we are looking at somewhere close to Rs 108-109 where we would expect some profit booking. So, if there are traders who are holding long I feel if you trail your stoploss it should be around Rs 101.5 and Rs 108-109 is what you can keep it long for.”