Stocks To Buy With Anil Singhvi: Piramal Enterprises, Gujarat Ambuja Cement are top picks for Sanjiv Bhasin; know Bank Nifty outlook
Stocks To Buy With Anil Singhvi: Amid skyrocketing Nifty Bank index due to the heavy short-covering, Zee Business Managing Editor Anil Singhvi today turned to Sanjiv Bhasin and asked him to provide his view on Nifty Bank and share his top stock picks of the day.
Stocks To Buy With Anil Singhvi: Amid skyrocketing Nifty Bank index due to the heavy short-covering, Zee Business Managing Editor Anil Singhvi today turned to Sanjiv Bhasin and asked him to provide his view on Nifty Bank and share his top stock picks of the day. The IIFL Securities Director replied by saying a further rise is expected in Bank Nifty index and he also suggested Piramal Enterprises and Gujarat Ambuja Cement as shares to buy.
Speaking on the skyrocketing index, Sanjiv Bhasin said, "Bank Nifty index was in oversold condition and when the banking index was under tremendous pressure yesterday, I was the first to suggest short-coverings. Today, the index has touched 22,000 and I am still expecting the heavy short-coverings to continue leading to further rise in the banking index."
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On his top stock picks of the day, Bhasin told Anil Singhvi, "My first stock pick of the day is Piramal Enterprises shares. One can buy Piramal Enterprises share at around Rs 1,300 mark for the target of Rs 1,375 maintaining the stop loss at Rs 1,275."
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On his second pick of the day Sanjiv Bhasin said, "My second stock pick of the day is Gujarat Ambuja Cement shares. This is the share to buy because of the rising gas stocks. Cement is a subsidiary of this gas stock rise and Gujarat Ambuja Cement shares have given strong breakout recently and hence I recommend stock market investors to buy Gujarat Ambuja Cement shares at Rs 121 mark for around 10 per cent profit maintaining the stop loss at Rs 115 levels."
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