Cipla may rally 6-8%, says Manoj Murlidharan

Manoj Murlidharan Vayalar of IIFL told CNBC-TV18, "The pharma space, the percentage weightage it has on the market and on the index is not really that heavy to actually dictate the trend but cement and pharma are the sectors where we feel the money has poured into."

"Offlate if we see the derivative side Foreign Institutional Investors (FIIs) have bought two portion in the cash market and the shorting in the stock future. Majorly the shorts have come in the pharma sector. There is a good correction going on but if I have to pick one scrip out of that I still feel it would be Cipla. It is excellent because we have seen good cash based buying not only it has exceeded the five day average but we are seeing a good cost being maintained and that takes it on a positive side. 6-8 percent move is possible." He further added, "In real estate I don't feel there is any stock specific where we are actually seeing the cash based accumulation because at every point a 4-5 percent rally we see the distribution coming in the cash market. Now the sectors that we are concentrating we feel because we are bullish on the Nifty, we feel 6400 is what we are seeing at least possibly a month or so. So the sectors that we are positive on are banks, capital goods and metals."