Stocks to buy: Market expert and IIFL Securities Director Sanjiv Bhasin said on Monday that equity flows are going to remain strong in the market. It is up to investors whether they would want to join after the market gains 500 -700 points or at current levels, he said. He said decline will be there for a day or two, but the undertones are very firm.
He said that foreigners are turning into buyers, which shows that India is at a very sweet spot.
The outlook was given by him while speaking with Zee Business Managing Director and Market Guru Anil Singhvi 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 suggested to be stocks specific and reminded that today is the TCS result. He said that IT can be an outperformer in the second half.
For Today, Bhasin recommended two buy picks that will help investors make money in the near term.
Bhasin recommended Vodafone-Idea stocks as his first pick. He said that if the Adani group enters the 5G spectrum, then its strength will be strengthened. He suggested that if investors are in the mood to take a little risk, then buy this stock at Rs 8.60. The Vodafone-Idea will turn out to be a great game for anyone who wants to foreplay in the IT and telecom spectrum, he added, and said this stock is favorable for risk-reward.
Price: Rs 8.60
Target: Rs 10
Stop Loss: Rs 7.75
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Bhasin recommended GAIL Limited stocks as his second pick. He said that the margin expansion at GAIL will be very strong. In addition, their ancillary in polypropylene and poly acids will do very well.
Price: Rs 138.45
Target: Rs 143.50 – Rs 144
Stop Loss: Rs 134.50