Stocks To Buy and Sell With Anil Singhvi: Buy ONGC, Tata Power; Sell ACC, says analyst Sanjiv Bhasin

The outlook for Nifty is mixed and it may face some resistance around 11,500, analyst Sanjiv Bhasin told Zee Business Managing Editor Anil Singhvi today. There could be a correction of around 100 points from here, he added. He attributed this to the underperformance of Reliance Industries. 

He, however, said that the banking sector is seeing new vigour as has been predicted earlier. Bank Nifty has already touched 23,200 mark so the real action is in financials, he further added. The IIFL Director continued to be bullish on the PSU stocks. 

All the previous picks recommended on various ‘Bhasin Ke Hasin Share’ episodes over the past 2-3 days have met their target or outperformed. Indusind Bank, Cholamandalam Finance and Axis Bank stocks have achieved their targets, he said. He advised investors to book profits on these stocks. Investors should book profits on Havells too. This stock has been consistently meeting all its targets.   

In today's show, the technical analyst gave two Buy calls and one Sell call.  

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भसीन के हसीन शेयर: बाजार के आउटलुक पर क्या है राय...साथ ही संजीव भसीन से जानिए, किन शेयरों पर लगाएं पैसा?@IIFLMarkets @sanjiv_bhasin @AnilSinghvi_ pic.twitter.com/fZRrfxmZrI

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Top Stocks to Buy: ONGC 

Bhasin’s first recommendation was ONGC which he called as his “conviction call”. This stock should be bought at Rs 81-Rs 81.25, he said. The stop loss is Rs 78.50 and the near term target is Rs 92-93. 

Top Stocks to Buy: Tata Power 

Another stock picked by him today was Tata Power. This stock should be bought around Rs 60. He puts the stop loss at Rs 58.50 and target price at Rs 72. The traders can book profit between Rs 68-70 while the investors can book profit at Rs 72. 

See Zee Business Live TV Streaming Below:

Top Stocks to Sell: ACC Cement  

Bhasin recommended a Sell call on ACC Cement shares. He said that the stock should be sold in the range of Rs 1405- Rs 1415. He puts the stop loss at Rs 1428 and the target price at Rs 1365.