Short Hindalco at current level: Murlidhar

Manoj Murlidhar, Head of Derivatives, IIFL PReMIA, IIFL Link feels investors can short Hindalco at current level.

Murlidhar told CNBC-TV18, "Hindalco, we had advocated to go and buy a put because we were not expecting it to cross the 146-148 on the upside though. So we feel yes some pressure can still come in and Hindalco you can actually ideally short a Hindalco at this level so you can expect at least a 130 yield on that. So we feel possibly till the end of the contract it might be between the 136 to 140 levels for this expiry."