Pick Manappuram Finance on declines: Akshata Deshmukh

Akshata Deshmukh, Chief Strategist-Trading at Networth Stock Broking told CNBC-TV18, "Manappuram Finance has been in a fairly long consolidation mode for the past many months in a row, there was channel trading taking place. Breakout has occurred above Rs 26 and the stock in my view over the near term is headed towards levels of Rs 38-40."

"Looking at the price volume action in the recent days, it makes sense to enter into the stock but at a slightly lower level probably once it retraces at least 4-5 percent from the current levels and then enter into the stock,” she added.