Nifty trading near short term bottom, upside seen from here, Analyst Sanjiv Bhasin opines; buy UltraTech, Dr Reddy’s for these targets

In a chat with Zee Business Managing Editor Anil Singhvi, Director of IIFL Securities Ltd Sanjiv Bhasin picked two stocks today and both were from the large cap segmenst. The stocks were recommended in the popular TV show ‘Bhasin Ke Hasin Shares’. Know which stocks he recommended and why they are likely to give handsome returns to the investors.   

On the current volatility in the stock markets, Bhasin said that if the bottom is made, it is expected to be tested. He was hopeful of a gap-up soon that would facilitate in making new positions. He expects markets to stablise on Wednesday.

The IIFL Director opines that a bottom has been hit and there is a timewise consolidation happening now which could stretch for the next three days.    

The macro indicators are on the positive side, he said adding that investors must now try to buy stocks. IT and banks are likely to outperform as the cost of money is lowest while credit has expanded.  

A 17 per cent correction in Bank Nifty has now made it the best entry point for 2022, he added.  

On his previous recommendations, Bhasin recommends booking profit in Bajaj Finserv as the stock has hit its target. Buy again at levels around 15,700 as the stock is set for a target price of Rs 19000. Reliance Industries Limited (RIL) and State Bank of India (SBI) have also hit their targets, he informed. Investors must continue holding HDFC. He also spoke of staying with HDFC shares.

For today, Bhasin recommended two buy calls that will benefit investors and traders.  

Stocks to Buy - UltraTech Cement 

Buy UltraTech at Rs 7270 for a target price of Rs 7500 and a stop loss of Rs. 7125. 

Dr Reddy’s Laboratories 

Buy Dr Reddy's at Rs 4600 with a stop loss of Rs 4515 and the target price of Rs 4725. 

For more details: WATCH FULL VIDEO here: - 

जानिए IIFL सिक्योरिटीज के संजीव भसीन ने आज किन स्टॉक्स में दी निवेश की सलाह?@AnilSinghvi_ | @sanjiv_bhasin | @iiflsecurities pic.twitter.com/7b2ienaXwh

— Zee Business (@ZeeBusiness) December 21, 2021