Here are some stock trading ideas from Manoj Murlidharan

In an interview to CNBC-TV18, Manoj Murlidharan of Religare Securities shared his readings and outlook on Futures and Options (F&O) side of the market, specific stocks and sectors.Below is the verbatim transcript of Manoj Murlidharan’s interview to Anuj Singhal, Latha Venkatesh & Sonia Shenoy on CNBC-TV18.Latha: How do you trade the Nifty today? Do you trade it at all?A: I feel the resistance for the Nifty today is somewhere closed to an 8,710 to 8,720 more or less. So, I would suggest selling September 8,900 Call option. Try and sell it between Rs 60 and Rs 65, a stop loss of Rs 84 for a target of Rs 20.Unfortunately I feel the upmove in the Nifty would terminate in the next one or two days and we are expecting the Nifty to come down to an 8,320 eventually. The Bank Nifty might be correcting to 18,400. So the view for the September is we are expecting that it has become a sell on rise market. We are seeing FIIs smartly taking the money out. When you do an arbitrage in which they buy into the market, they buy in the cash market and sell in the stock future. However, if you look in to the quantum of selling into the stock future, it is net money out of the market and not putting the market in.We are expecting some money to come in to the bond market now that is nothing to do with the equity here. However, then I feel that the Bank Nifty might underperform.It is the pharma as the sector which we might see some traction today and possibly the first fortnight of September. So, the strategy for the Nifty here would be to sell 8,900 call option.For the Bank Nifty sell Bank Nifty between 19,460 -19,480 stop loss of Rs 6 then and we are expecting a target of Rs 19,180 today itself.Anuj: You said pharma stocks and you have two buy calls in that?A: I like Strides Shasun, good buying is seen and the most important part is the volume weighted average price (VWAP) concept works here. At an every average we are seeing good delivery based buying which has happened. So, Rs 965 we would recommend buying that even on the futures or you can go with the cash market. Buy with a stop loss of say Rs 948 on that and we are expecting a target of Rs 998.The second top pick would be on Ajanta Pharma, we buy it close to Rs 2,000 with a stop loss Rs 1,978 and expecting a target of Rs 2,090 on that as well.Latha: You have Reliance Communications as well on your strategy?A: It qualifies into VWAP because there is lot of open interest which has yet to be rolled so I guess it might be a long unwinding. We are expecting the same to happen for the Bank Nifty as well. So, Reliance Communications would be a sell let say of Rs 53 to 54 we would recommend selling that with a stop loss of Rs 56. I am expecting a target of close to Rs 49 on that.