Top Stocks to Buy: Investors should stay put in the markets as Mid-cap stocks are currently in flavor, albeit with some caution, Analyst Sanjiv Bhasin told Zee Business Managing Editor Anil Singhvi during his daily stock recommendation programme ‘Bhasin Ke Hasin Share’. Markets may show some resilience but there could be a correction in equities, too, the IIFL Director said.
He was responding to a question by the Market Guru regarding the outlook of domestic markets. Singhvi observed that the domestic markets today held strong despite US markets witnessing significant falls on Tuesday.
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Bhasin had earlier indicated that the prices of gold, silver and stocks may go downhill. He said that he sees weakness in select commodities and metals.
Gold prices have fallen by over 10 per cent on the last two trading sessions.
In his daily update, he said that Siemens, Ashok Leyland and Indus Bank have achieved their targets. The stocks were recommended by him on Tuesday. He also advised investors to book profits on Mannapuram Finance and Adani Ports stocks.
Today he gave three stocks –two with Buy calls and the one with a Sell call.
Top Stocks To Buy: Bhasin picked Bank of Baroda as his top Buy. He said that the PSU stocks were placed strongly. He recommend buying in this stock at current levels of Rs 49. He puts the stop loss at Rs 48 and target price at Rs 55. The bank’s quarterly results were ahead of expectations but it faced losses because of provisioning for bad loans.
Top Stocks To Buy: He picked Bharti Airtel as his second stock. Whatever is the judgement from the Supreme Court in the AGR (Adjusted Gross Revenue) dues issue, this company will be a beneficiary, he said. At a price around Rs 555, the risk-reward ratio is favourable. He puts the stop loss at Rs 545 while the Target price at Rs 585.
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Top Stocks To Sell: He recommended Tata Steel for selling. This stock is currently trading around Rs 412-Rs 413. He puts the stop loss at Rs 420 and the target price of Rs 385.