Top Stock to Buy Today: The markets have become an unbridled horse and are now galloping from strength-to-strength, analyst Sanjiv Bhasin told Zee Business Managing Editor Anil Singhvi today. He added that there might be some correction at a later stage, but it is advisable to remain invested in the markets, the IIFL Director added. 

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The broader market performance is suggesting that the focus is not only on the index stocks but also on the undervalued ones, he further said. This phenomenon is going to stay for some more time. Bhasin said that he doesn’t rule out at least one correction in the Nifty, but the broader market will likely outperform, Bhasin said. 

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On his previous stock updates, Bhasin said that NMDC has given excellent returns. It was recommended at Rs 85 and the stock today ended around Rs 107. He said that there will be certain sectors which will outperform including metals which have a lot of current. LT (Larsen and Toubro)  has also hit its target, he said.     

The technical analyst recommended two stocks and both were Buy calls.

Top Stocks to Buy: IGL

His first recommendation was IGL. The company has given its guidance saying that the pre-covid levels for gas are back. This stock is currently trading around Rs 406. He puts the Target price at Rs Rs 425 and the stop loss at Rs 398.

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Top Stocks to Buy: Canara Bank   

Another stock picked by him today was Canara Bank. He said that he expected PSU banks to do quite well from here. This stock is currently trading around Rs 111. He puts the stop loss at Rs 107.50 while the the target price between Rs 120-Rs 125.