BHEL, Indian Hotels, Allahabad Bank top picks: Murlidhar

BHEL, Indian Hotels and Allahabad Bank are top picks, says Manoj Murlidhar, Head of Derivatives, IIFL PReMIA, IIFL Link.

Murlidhar told CNBC-TV18, "Couple of stocks overall in the market which I feel we can go long, one would be a BHEL possibly Rs1650-1660 ideally we can go long. Keep a decent stop loss of Rs1614 on that and possibly we can expect Rs1720 because we feel some short covering has happened as well as some cash based buying. So possibly this stock can give you a bounce of possibly 1800 odd points."
He further added, "Indian Hotels is some decent accumulation happening at 71-72 levels, you can go long on that, keep a stop loss of Rs68 and obviously Rs79-80 might be on the cards. So this would be my two top picks and in the banks I feel Allahabad Bank is one at Rs166-167 we can definitely go long on that, keep a decent stop loss of Rs162 and we can expect at least Rs178 on that."