Top stocks to buy with Anil Singhvi: Sanjiv Bhasin says energy sector follows bullish trends amidst volatility; recommends IEX, Bajaj Finance

In yet another episode of Hasin Ke Bhasin, Zee Business' Managing Editor & Market Guru, Anil Singhvi, spoke to Sanjiv Bhasin, Director at IIFL Securities Ltd.

Talking about the outlook for the market and buy picks update, Bhasin said that the market had made its bottom, but consolidation is time-bound. Gradually the Santa rally is starting in the US. According to sources, the Nasdaq has broken out and will reach new heights soon. 

The bottom is in its place now, so start selecting stocks. Bhasin feels positive towards Bank Nifty because the 17 per cent fall was unwarranted.

Due to the big news of the ZEEL-Sony merger, the biggest lenders of ZEEL from the private sector of banks like Axis Banks, RBL Bank, and Yes Bank should be re-rated and will get more fill-up. Giving an example, he said that cash will be returning to the balance sheet, bad assets will turn good, and asset quality will improve.

Moving to his updates on the previous day's buys, he recalled Reliance Industry at the price of Rs 2265, and it was sold at Rs 2365, reaching his given target for the stock. He also recommended Bajaj FinServ, which he suggested at a price of Rs 15700 - Rs 15900. He gave a target of Rs 16200 for Bajaj FinServ yesterday. It was sold at Rs 16140. He gave new targets of Rs 16400 - Rs 16700 for Bajaj FinServ.

In yesterday's closing bell, he gave two picks of Dr Reddy and UltraTech Cement. Dr Reddy is stable at Rs 4600, with a target of Rs 4700. And UltraTech is at Rs 7270, with a target of Rs 7375.

He said that he considers Axis Bank as an outperformer and suggested the investors stick with Axis Bank shares.

Here are the two picks for today by Sanjiv Bhasin:

IEX

Even though the market is volatile today, today's news was that IOCL (Indian Oil Corporation Limited) had bought a 5 per cent stake in the Indian Gas Exchange (IGX). IGX is a subsidiary of the Indian Energy Exchange (IEX). And the energy sector is following a bullish trend. Bhasin suggested the investors accumulate its stock.

Target: Rs 285 - Rs 350

Price: Rs 252.75

Stop Loss: Rs 242

Bajaj Finance

He said that Fintech's balance sheet consists of USD 8 Billion. Bajaj Finance and Bajaj FinServ are of USD 10 Billion.

Target: Rs 6800

Price: Rs 6650

Stop Loss: Rs 6520

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/Rbz8q6od9g

— Zee Business (@ZeeBusiness) December 22, 2021