Banks will retake mantle and will lead: Sanjiv Bhasin with Anil Singhvi | Recommends HDFC Bank, Bajaj Finserv

In an episode of ‘Bhasin Ke Hasin Share,’ Zee Business’ Managing Editor Anil Singhvi spoke to Sanjiv Bhasin, Director-IIFL Securities Ltd, about his profit booking, buy picks, and outlook for today amidst recovery signs seen in the market.

Bhasin said that it depends on the investor’s horizon because the market is going to be volatile.

He said, “I think yesterday’s low shouldn’t be broken, and if we can hold that and close on about the technical levels of 16800. Then we are looking for higher levels coming in over the next few days.”

Bhasin thinks that the damage in price has already been done, and now is the time for consolidation for around 3-7 days.

Technology is leading from the front, and consolidation can be seen in the banks, Bhasin claimed.

“I believe banks will retake the mantle and will lead,” Bhasin said.

Bhasin suggested investors stay a little nimble-footed and buy their favourite shares whenever given a chance.

Bhasin recalled his previous day’s recommendations and said that he gave Reliance Industries with the price of Rs 2265 and a target price of Rs 2325. It was sold at Rs 2320. If you are a short-term trader, you can make a profit booking of 3 per cent.

Bhasin also recommended SBI at the price of Rs 445 and a target of Rs 460. It was sold at Rs 459.

Citing the news on Axis Bank today, Bhasin reiterated on Axis Bank. He said that if Axis bank acquires the asset of the City Bank. It will become the second-largest private bank. City Bank’s deposits and brand will become a huge positive for Axis Bank. He expects inorganic growth for Axis Bank. The stock is volatile but it can be a great risk-reward, Bhasin claimed.

He gave Rs 735 - Rs 750 as a target for Axis Bank.

Here are the two buys by Sanjiv Bhasin:

Large HDFC Bank

Bhasin said, “Mortgage Finance is doing extremely well.” He also said that the news came in today’s newspaper that 1 lakh property registration happened in Mumbai alone.

Target Price: Rs 2630 - Rs 2650

Price: Rs 2555

Stop Loss: Rs 2525

Large Bajaj Finserv

“I think in Fintech, Bajaj Finserv is going to outperform,” Bhasin added.

Target Price: Rs 16250 - Rs 16400

Price: Rs 15700 - Rs 15900

Stop Loss: Rs 15485

For more details, Watch Full Video Here:-

जानिए IIFL सिक्योरिटीज के संजीव भसीन ने आज किन 2 स्टॉक्स में दी निवेश की सलाह?@AnilSinghvi_ | @sanjiv_bhasin | @iiflsecurities pic.twitter.com/EfoUaePjc1

— Zee Business (@ZeeBusiness) December 21, 2021