Crompton Greaves, Shriram Transport best bets: Murlidharan

Crompton Greaves and Shriram Transport are the best bets, says Manoj Murlidharan, AVP-Derivatives, IIFL.

Murlidharan told CNBC-TV18, “Crompton is a good buy. As I was saying there is a good buying as you said on the long build up in the derivatives side and needless to say the cash based accumulation is happening and we are not really seeing the distribution still happening at the upper level. We feel there is still upside.”
He further added, “Second pick would still be Shriram Transport. Even today I guess the stock is up 0.5%. Needless to say in this range last 11-12 odd sessions we have seen huge delivery buying and that is more than the 13 day average simply saying that there is some possibly institutions and investors who have taken long positions in the cash market and they are holding onto that with long build up happening. We feel these would be the two long picks we can take at this point of time.”