Is it the right time to buy stocks or if there is a scope of the market moving further down, Zee Business’ Managing Editor, Anil Singhvi, spoke to Sanjiv Bhasin, Director at IIFL Securities.

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Analyst Sanjiv Bhasin said that he expected oil prices to fall from here and might reach 90 USD, while NASDAQ is expected to bounce back. The IIFL Director recommended investors to be prepared for high beta trade to play out.

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This is the time to buy mid-cap stocks, defence stocks, and selected bank stocks, he said. The market will bottom out today, and tomorrow the market will continue this rally. The market will soon reach the level of 18300, Bhasin claimed.

AB Capital overachieved the target of Rs 109 by reaching Rs 116, and BHEL crossed the target of Rs 60 by reaching Rs 68. Voltas reached the level of Rs 1340 from Rs 1200, and SBI reached the level of Rs 165, surpassing the target of Rs 130.

Additionally, BEL, Godrej Consumers, and Piramal Ent too achieved their targets, he added.

The stocks for today, according to Bhasin, are:-

SBI Life

The company has very good Gross Merchandise Value (GMV).

Price: Rs 1104

Target Price: Rs 1200

Stop Loss: Rs 1075

WhirlPool

Bhasin claimed that this brand is unbeatable in terms of AC and washing machine sales.

Price: Rs 1666

Target Price: Rs 1750

Stop Loss: Rs 1620

Mphasis

Mid-cap IT is going to grow from here, and this company has no debt, Bhasin said.

Price: Rs 3187

Target Price: Rs 3350

Stop Loss: Rs 3110

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