Analyst Sanjiv Bhasin’s top picks for today: Buy Ultratech Cement, Sell Bajaj Finance
Market expert Sanjiv Bhasin has advised the investors to book profits this week. The IIFL Securities Director while speaking to Zee Business Managing Editor Anil Singhvi also cautioned the investors forAugust month, which he said may not be as good as the months of June and July
Market expert Sanjiv Bhasin has advised the investors to book profits this week. The IIFL Securities Director while speaking to Zee Business Managing Editor Anil Singhvi also cautioned the investors forAugust month, which he said may not be as good as the months of June and July.
August will be a very difficult month and will belong to bear, he said. If investors are planning to stay put on their calls, they should hedge their investments otherwise the right strategy will be to book profits. The Nifty will continue to be in an upward trajectory in this week and may even test 11350- 11450 mark, he added.
He said that his short calls including Tata Motors have hit their targets. His long calls have seen a temporary stop loss. He advised investors to move with the markets. He said that investors should exit stocks which have seen stop losses. Investors should book profits in short calls. IDFC and Marico have also achieved their targets. He said that he was still bullish on HPCL and it can become an outperformer.
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In a departure of sorts, the market analyst today gave two calls – one Buy and one Sell. He said that going forward, he would give one Buy and one Sell call.
Top Stocks To Buy: Ultratech Cement
Bhasin said that he was very bullish on the cement sector. Today, he picked Ultratech Cement as his top Buy. The stock is currently trading around Rs 3815. He puts the stop loss at Rs 3765 with a target price of Rs 3950. He expects an upside of 5 per cent in this stock before the announcement of its June quarterly results. The company will announce its results on Tuesday.
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Top Stocks To Sell: Bajaj Finance
Bhasin’s second pick was is a Sell call. He picked Bajaj Finance. The stock is currently trading around Rs 31. The investor should short this stock within Rs 3175- Rs 3185. He puts the stop loss at Rs 3250 while the target price of Rs 3050.
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