Stocks To Buy With Anil Singhvi: Sanjiv Bhasin reveals 2 shares - IOC and Havells India
Market Guru Anil Singhvi has advised traders to book some profit near 11975 - 12025 levels on Nifty.
Stocks To Buy With Anil Singhvi: Market Guru Anil Singhvi has advised traders to book some profit near 11975 - 12025 levels on Nifty. Singhvi said that the support range on Nifty is 11765 – 11835 and the market should hold on to these levels and see some buying. Keeping that in mind, he asked Sanjiv Bhasin, Director at IIFL Securities, to share his picks for today and the analyst responded with IOC and Havells India as being stocks to buy. Nifty is off 200 points trading at day’s low after crossing 12000 levels, profit booking witnessed in Market.
Speaking on IOC shares, Sanjiv Bhasin said, "In the coming times, some more deals will happen in OMC’s space. I recommend buying into IOC around Rs 75.5 to Rs 76.5 with stop loss of Rs 73.25 and target of Rs 100. The dividend yield of this company is 7% and in case if buyback comes it won’t be less than Rs 100. There are rumours in the market that the Government will do a buyback of PSU’s, however, I strongly believe they are not rumours. Government will do a buyback for sure in the coming days.”
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On his next pick of the day, the IIFL Securities Director said, "My next pick is Havells India. It is one of the Top names in the Consumer Electronics space. I would recommend traders to buy Havells India shares at Rs 712 – Rs 713 levels for the target of Rs 755 with stop loss of Rs 700.
(Authored By Rahul Kamdar)
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