M&M, Motherson Sumi can outperform in near term, says Sanjiv Bhasin; sees Nifty hitting 18000 levels by May 9 | Here is why

Market Index will definitely reach the 18000-mark by May 9, 2022, said IIFL Securities, Director, Sanjiv Bhasin, in conversation with Zee Business’ Managing Editor, Anil Singhvi. OEM, Banks, Auto and the IT Sector will outperform. The reason Bhasin cited for his claim is that PLI schemes are going to increase; there is an earring in the tech industry. Due to expiry, the market will remain volatile. Hence Bhasin recommended some quality shares.

Bhasin's two favourite stock picks on Monday were M&M and Motherson Sumi.

Auto is going to be an outperformer. M&M started from the levels of Rs 700 and has now reached over Rs 1100. Bhasin gave a target of Rs 1200.

There is a downward trend in steel and other related sectors. The impact of inflation was mostly on the commodity. Bhasin expects to see a sweet spot in the month of May in the company’s stocks. He gave a target of Rs 175 for Motherson Sumi.

ICICI Bank and Federal Bank are going to be the outperformer in mid-cap, and Bandhan bank will reach a level of Rs 375. The federal bank will reach the level of Rs 115. 

Bhasin said that HCL Tech would be the front runner in the IT sector in the mid-cap and large-cap IT. Additionally, Tech Mahindra will also move positively due to the advantage of valuation. The shares were corrected from Rs 14500 to Rs 1275, buying them now will give returns.

Persistent, Mphasis and Mindtree are also Bhasin’s favourite shares in Mid-cap IT as the Relative Strength Index (RSI) rating of the IT sector is at 30 per cent. 

Additionally, he recommended IEX, and LIC Housing in the mid-cap stocks.

In the cement segment, Bhasin picked Ultratech as his favourite stock.

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/0aJ8OejMxv

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