Exit Manappuram Finance at around Rs 20: Nooresh Merani

Nooresh Merani of AMSEC told CNBC-TV18, "Manappuram Finance is a pretty high beta stock and there is a lot of risk involved. Over the last few months we have seen a major fall in the stock, but right now on the technical charts we see lot of bottoming out around Rs 15-17. Investor can keep a stoploss of around Rs 15 and hold a position."

"In any spikes we can expect something closer to Rs 20 where you can look to get out of the stock. If one has a long-term view he/she can look at smaller financial companies like PTC India which looks interesting or Power Finance Corporation Limited (PFC). So one can shift into those stocks or hold on with a stop loss at Rs 15," he added.