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Sanjiv Bhasin Call On Zee Business: Market expert and IIFL Securities Director Sanjiv Bhasin on Monday said that the Nifty50 will test the previous high of 18600 soon. In a telephonic conversation with Zee Business Managing Editor Anil Singhvi, he said that it is time to look beyond 18600 and suggested staying invested in the market.
“I am reiterating that the market will test the previous high.. it may consolidate for some time but all calls are for buying opportunities. So don’t miss this,” he said.
Bhasin recommended 3 stocks to the Zee Business viewers in the afternoon session:
Union Bank Share (CASH)
He said that Union Bank is performing excellently and management is saying its credit growth in the second half will be the highest in its history. He also said that the dividend yield is 5 per cent.
Union Bank Share Price Buy – Rs 44
Union Bank Share Price Target – Rs 70/75
He said that the target would be achievable around Diwali.
IOC Fut
IOC is largest the largest refiner in the country, he said, adding that the stock is set for an upward move.
IOC Share Price Buy – Rs 72
IOC Share Price Price Target – Rs 80
Stop Loss – Rs 68
Tata Power Fut
He said that Tata Group has a coal reserve in Odisha which puts the company in the sweet spot. He said that the company will have a high margin.
Tata Power Share Price Buy – Rs 243
Tata Power Share Price Target – Rs 260
Stop Loss – Rs 233
He said that Zee Ent, Deepak Nitrate, Godrej Prop and DLF, recommended earlier, are performing well.
Earlier in the morning session, Bhasin had said that Nifty50 would hit 18600 on Thursday-Friday. Nifty50 had made a lifetime high of 18604.45 on October 19, 2021.
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