Stocks to buy with Anil Singhvi: Sanjiv Bhasin bullish on HCL Tech and ICICI Prudential Life
Sanjiv Bhasin said Market participants are worried about the fall in the markets for past 3 sessions ahead of the Budget. There is a good chance that markets may recover strongly in the second half of todays session. Microsoft results in US and some of todays results will impact the markets positively. However, he added that markets will remain volatile due to expiry tomorrow. Bhasin said this is a good opportunity to buy.
Today, market analyst Sanjiv Bhasin told Zee Business Managing Editor Anil Singhvi that investors should buy HCL Tech in IT sector and ICICI Prudential Life ahead of results today.
Sanjiv Bhasin said Market participants are worried about the fall in the markets for past 3 sessions ahead of the Budget. There is a good chance that markets may recover strongly in the second half of today’s session. Microsoft results in US and some of today’s results will impact the markets positively. However, he added that markets will remain volatile due to 'expiry' tomorrow. Bhasin said this is a good opportunity to buy.
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Bhasin further added that participants can see levels of 15000 on Nifty after the Budget announcements. Nifty will remain volatile ahead of expiry and on global cues. Participants should buy quality stocks at current levels. Arcelor Mittal said that the biggest beneficiary of the weak dollar will be metal prices, the stock is trading at a 3 week high. IIFL has added Tata Steel, JSW Steel and Jindal Steel in their portfolios.
Market Participants are expecting good news for API theme related to Pharma sector which will benefit stocks like Aurobindo Pharma and Divi's Labs.
There is a good chance that incentives in R&D could double and triple from here on. This will benefit Sun Pharma and Cipla. Sun Pharma spends 8% of its turnover into R&D expenses. This will help them to improve their bottomline.
In Insurance space, HDFC Life, ICICI Prudential Life and SBI life should be added in portfolio as Insurance sector will be given some relief in upcoming Budget.
Technology sector is seeing good numbers and traction. HCL Tech and TCS will remain top picks in IT Sector.
HCL Tech has seen correction from 1068 to Rs 940. All the verticals of HCL Tech are performing brilliantly. The target on HCL Tech is Rs 1015 with stop loss of Rs 940.
In Q3 FY21 results which are today, value of new business will be extremely strong in ICICI Prudential life. The stock should be bought at current level of Rs 500 with target of Rs 550 and stop loss of Rs 490. The target on this stock could be achieved this week only.
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