Sanjiv Bhasin picks these stocks for profit booking: Check target price, stop loss

In conversation with Anil Singhvi, Managing Editor at Zee Business, Sanjiv Bhasin, Director-IIFL Securities Ltd picked two stocks for profit booking.

He also spoke on the market outlook and said that market will remain a bit volatile on Monday. Bhasin said that he is celebrating Diwali of 18200. The fear factor in market is an opportunity, he added.

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He said that in select areas ofcourse valuation was stressed but if we see results of metals, IT, banks then it can be seen that market is oversold in short term.

Bhasin picked IDFC First Bank Ltd and Tata Consultancy Services Limited (TCS) for gains. Giving his outlook on both the stocks, he said:

जानिए IIFL सिक्योरिटीज के संजीव भसीन ने आज किन 2 स्टॉक्स में दी निवेश की सलाह?@AnilSinghvi_ | @sanjiv_bhasin | @iiflsecurities pic.twitter.com/YiitTg1zPL

— Zee Business (@ZeeBusiness) November 1, 2021

1. IDFC First Bank Ltd: He said that he liked the result of IDFC First bank and advised to buy the stock at Rs 49-49.50. He gave a target of Rs 52.50-53 in short term and added that the stock can also reach the levels of Rs 57 by the end of November. Rs 48.15 is the stop loss for traders while for investors it is Rs 47.50.

2.Tata Consultancy Services Limited (TCS): It has seen a sharp correction and this is the time to buy quality, said Bhasin. He advised to buy the stock at Rs 3425-3430 and keep a stop loss at Rs 3365 and gave a target of Rs 3525-3535.

It can be noted that the shares of IDFC First Bank were trading at Rs 50.00 with a gain of 0.45 points or 0.91 percent on BSE at 1:05 pm. While it was at Rs 50, up by 0.50 points or 1.01 percent on NSE.

Meanwhile the shares of TCS were trading at Rs 3,437.65, up by 39.90 points or 1.17 percent on NSE at 1:05 pm. It was at Rs 3,437.85, up by 39.05 points or 1.15 percent on BSE.

(Disclaimer: The views/suggestions/advices expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)