Stocks to buy: Market expert and IIFL Securities Director Sanjeev Bhasin on Thursday said that the Nifty is expected to go up to 16500. He is still bullish on midcaps. He reminded that IT is outperforming from the last two days.
The outlook was given by him while speaking with Zee Business Anchor & Head-Research Deepanshu Bhandari in the popular TV show ‘Bhasin Ke Hasin Share’, in which, he picked two stocks for investors that can yield high returns.
Talking about the update of the market, Bhasin said Adani Ports recommended at Rs 675, is trading at Rs 705; Wipro recommended at Rs 414, is now at Rs 425; Coforge recommended at Rs 3520 is trading at Rs 3718 and Tata Consumer is trading at Rs 760 which was recommended at Rs 745. Apart from that Vedanta is at Rs 219 which was recommended at Rs 211, Tata motors recommended at Rs 414 is trading at Rs 425, Eicher Motor is at Rs 2940 which was Rs 2620 at the time of recommendation and IEX recommended at Rs 157 is now trading at Rs 162.
For Today, Bhasin recommended two buy picks that will help investors make money in the near term.
Bhasin recommended Exide stocks as his first pick. He said that this stock has benefited the most from the falling prices of copper and aluminum. Exide is a no-brainer, he added.
Price: Rs 144.20
Target: Rs 155
Stop Loss: Rs 138
He said this stock is headed to Rs 160. “10% rally I am seeing in Exide,” he added.
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Bhasin recommended Gujarat Narmada Valley Fertilizers & Chemicals Ltd stocks as his second pick. He said this stock is also the biggest beneficiary of fall prices. Their Caracciolo and fertilizers are doing extremely well, he added.
Price: Rs 610
Target: Rs 635
Stop Loss: Rs 590