Sanjiv Bhasin top stock picks: Sun TV, Mind Tree for bumper returns, says analyst, reveals buying levels

Top stock picks: Banks are exhibiting some weakness at 10800-10850 levels on the Nifty and that is understandable as the markets have done many rallies, market expert Sanjiv Bhasin told Zee Business Managing Editor Anil Singhvi.

Referring to the coronavirus pandemic, he said that the good news is about a likelihood of the “flattening of curve” in Delhi and Mumbai. This may bring a peak of Covid-19 by middle of July, he added. He expects the number of cases to fall from there, which will act as a positive sentiment for the markets.

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 This may further enhance the resumption of economic activity. The markets have seen an appreciable rise which calls for profit booking, Bhasin advised investors. Though banks are exhibiting some weakness, technology, pharma and gas stocks have a good chance, going forward. As the economic activity increases, companies like IGL, GAIL will show recovery, Bhasin said.

He said that the investors need to hedge their trading positions when the correction comes.

Sun TV Share Price

The analyst recommended a Buy call on Sun TV which should be bought at Rs 394-395. The stop loss is Rs 384.50 while the target is Rs 410-Rs 412.

MindTree Share Price

His second pick is MindTree, an IT sector company. The company is in a mid-cap space. The stock is currently trading around Rs 1018. The stop loss is Rs 995 while the target price is Rs 1050. The company will be announcing its quarterly results today. Bhasin said that the results will be better than expected. The analyst said that investors can buy this stock before the results are declared.

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Singhvi said that the developments on the coronavirus front is encouraging.