Stock markets with Anil Singhvi: From Nifty 50 barrier to top 2 stocks to buy, top tips Sanjiv Bhasin revealed today
This Analyst recommends buying of Godrej Consumer stocks at Rs 690-Rs 692. He puts the stop loss at Rs 680 while the target price is at Rs 720. Godrej Consumer is one of the best stocks in the FMCG basket. The margins for the company are likely to see an upside, going forward
The stock markets are on a high right now but investors should know that they may take a breather, market expert Sanjiv Bhasin told Zee Business Managing Editor Anil Singhvi. However, there may still be some momentum left in markets as they are still not at the top, he added. Bhasin said that he sees a barrier around 11200 for Nifty 50 and this level may not be breached so easily. He advised investors to have a stock specific approach.
Another Nifty NSE index is in a much better situation going forward, Bhasin, who is the Director of IIFL Securities said. Nifty Bank is placed well, with banks reporting good results, he revealed. There could be a buying opportunity in this segment as investors have taken a lot of short positions on the banking stocks.
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The analyst also said that cement and PSUs are the flavour of the day. He advised investors to hold on to their existing positions.
He has been stressing on the PSU stocks for a while now including GAIL, NTPC, NMDC and SAIL. NTPC and Coal India have hit their near term target today. He asked investors to stay put on NMDC stocks and even accumulate them.
He also advised profit booking on ICICI Bank stocks.
This analyst picked Godrej Consumer Products and Vedanta Limited as his two top Buys for today.
Top Stocks To Buy: Godrej Consumer Products
He recommended buying of Godrej Consumer stocks at Rs 690-Rs 692. He puts the stop loss at Rs 680 while the target price is at Rs 720. Godrej Consumer is one of the best stocks in the FMCG basket. The margins for the company are likely to see an upside, going forward.
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Top Stocks To Buy: Vedanta Limited
As for Vedanta, he said that the shares should be bought around Rs 113. He puts the stop loss at Rs 110 while the target price between Rs 120-Rs 123. He said that the company is the biggest player in silver business which has hit a 7-year high. This vertical accounts for 23 per cent of its entire metal basket. Silver will be a dark horse for this stock which may see an upside primarily because of this precious metal, he added.
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