Manoj Murlidharan of Religare Securities recommends buying Can Fin Homes and Voltas.
Manoj Murlidharan of Religare Securities told CNBC-TV18, "In this November series, there are a lot of stocks and sectors where the VWAP concept was trailing right from the month of October. We feel Can Fin Homes tops the list. The stock has decently corrected around 160-180 points and then the delivery base which happens in the cash market versus the prevailing long position value in the derivative market, it is quite relevant and we are seeing good amount of accumulation happening."
"Generally, when this happens for a stock, we see a surge and the upsurge can be a good 8-10 percent in the very short term. So we feel in Can Fin Homes, there is excellent accumulation between Rs 450-460. So we recommend buying even in the futures and Rs 455 should be the levels you should be buying with a stop loss of Rs 420, and we are expecting a good Rs 80 on that. So the target should come somewhere close to Rs 530 in the short term," he said.
"We like Voltas as well. The stock has seen long built up yesterday. So, we believe there will be a buying, follow-on on momentum and possibly it can be somewhere close to Rs 580. I recommend buying at Rs 557 with a stop loss of Rs 547 and we expect a target somewhere close to Rs 580," he added.
