JP Associates top pick in realty space: Murlidharan

JP Associates remains top pick in realty space, says Manoj Murlidharan, AVP-Derivatives, IIFL.

Murlidharan told CNBC-TV18, “JP Associates would still be a top pick. This is one scrip wherein the cash based buying which has come off lately and that is most important in a scrip, because the type of money which is coming into Indian markets, it is precisely the delivery based buying followed with a long position in the derivative side or maybe a short covering which takes the scrip up.”
He further added, “JP is still a good bet. Somewhere close to Rs 85-84.5 should be a good stop loss. We are expecting that scrip to go back to around Rs 96, so that should be a better buy at this point of time.”