In chat with Anil Singhvi, analyst Sanjiv Bhasin recommends buy on Infosys, sell on SAIL, Mahindra and Mahindra Finance

In chat with Zee Business Managing Editor Market Anil Singhvi, market expert Sanjiv Bhasin once again emphasised on exercising caution while taking position in the stock markets. He said that the investors should be wary of the existing euphoria, which has also brought many penny stocks in the limelight. He said that the investors should focus on raising their cash reserves as a sharp correction is imminent. 

On his previous updates, he said that his recommendation on IGL has hit its target. He advised investors to book profits on Tata Motors.  

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Bhasin said that his recommendation for now will be those stocks which will give 2.5-3 per cent. He also said that the stop losses should be strictly adhered to. Today, he gave three calls – one buy and two sells.    

Top Stocks to Buy:  Infosys           

The IIFL Director recommended Infosys as his top buy. He said that this stock is a very good hedge against rupee. Infosys share price is currently trading around Rs 1157. He said that this stock should be bought around Rs 1155 – Rs 1156. He puts the stop loss at Rs 1135 and the Infosys target price around Rs 1200.   

Top Stocks to Sell:  SAIL         

Stock recommended by him for selling was SAIL. He said that it should be sold around Rs 57.75 and Rs 58. He puts the stop loss at Rs 59 while the target price at Rs 52.50- Rs 53. 

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Top Stocks to Sell:  Mahindra and Mahindra Financial Services         

Another stock recommended by him for selling was Mahindra and Mahindra Financial Services. He recommended selling in this stock around Rs 71-Rs 71.50. He puts the stop loss at Rs 75 and target price at Rs 60.