Stock Markets With Anil Singhvi: Sanjiv Bhasin reveals 2 shares to buy - Bata and ITC
Stock Markets With Anil Singhvi: After massive short-selling on Monday, stock market is showing some signs of bounce-back.
Stock Markets With Anil Singhvi: After massive short-selling on Monday, stock market is showing some signs of bounce-back. However, Market Guru Anil Singhvi has cautioned traders about the nature of this rise. Singhvi said that the bounce-back may go on tomorrow as well but this trend is quite short-lived and much will depend upon the RBI credit policy coming on 6th August. He advised traders to maintain stock specific trade strategy. Keeping that in mind, he asked Sanjiv Bhasin, Director at IIFL Securities, to share his picks for today and the analyst responded with Bata and ITC as being stocks to buy.
Speaking on Bata shares, Sanjiv Bhasin said, "In the coming times, consumption is expected to pick up and Bata has strong potential to pick up. I recommend traders and investors to buy Bata shares at around Rs 1,268 to Rs 1,272 per stock levels for the target of Rs 1,315 to Rs 1,320 per share mark. However, I would advise traders to maintain the stop loss at Rs 1,249.
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On his next pick of the day, the IIFL Securities Director said, "My next pick is ITC. It is one of the the best stocks to buy from the FMCG basket. Due to the high tobacco sales, ITC is expected to pick up soon and hence I would recommend traders to buy ITC shares at Rs 195 levels for the target of Rs 208-210."
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However, Bhasin strictly advised traders to maintain the stop loss at Rs 191.25 per share mark.
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