The stock market is witnessing more selling and the pullbacks will be even sharper than bull market rallies, market expert and IIFL Securities Director Sanjeev Bhasin said on Wednesday that. His advice to investors is to remain prepared for the move.
Bhasin said that the current correction should be seen as a buying opportunity. He further said that even in such an oversold market, a 700-point movement cannot be ruled out. Selling is recommended only after this rally, he further said. Otherwise, you could really be caught on the wrong side, he opined.
Bhasin was speaking to Zee Business Managing Director Anil Singhvi in a popular TV show ‘Bhasin Ke Hasin Share’. He also picked three stocks for investors that will give high returns.
Talking about the updates of the market, Bhasin requested to change the stop loss of Bajaj Finance, as suggested yesterday, from Rs 5900 to Rs 5860. He also said the company has increased its rates in the short term too. Bajaj Finance is the no-brainer at this price, said the expert.
Further, the expert predicted that Mercedes will record the highest ever sales in its history and said the biggest financer of Mercedes is Bajaj Finance.
Price: Rs 5901
Target: Rs 6300
Stop Loss: Rs 5860
The second buy suggested by Bhasin yesterday was AB Capitals. He said AB Capital results will come tomorrow which will be very good.
For Today, Bhasin recommended three buy calls that will be beneficial for investors.
Larsen & Toubro Ltd
Bhasin recommended Larsen & Toubro Ltd stock. He suggested adding this stock to the portfolio. Results will be declared tomorrow and numbers are expected to hit double digits, he said. He further added that whether it is power, infrastructure, engineering, or cooling towers, L&T is witnessing the strongest growth ever.
Price: Rs 1590
Target: Rs 1700 – Rs 1730
Stop Loss: Rs 1560
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भसीन के हसीन शेयर्स…
संजीव भसीन का बाजार पर क्या है आउटलुक?
और साथ ही जानिए IIFL सिक्योरिटीज के संजीव भसीन ने आज किन 3 स्टॉक्स में दी खरीदारी की सलाह?
— Zee Business (@ZeeBusiness) May 11, 2022
Bharat Electronics Limited (BEL)
Bhasin recommended Bharat Electronics Limited stock as his second pick. He said that the results of this too will be announced tomorrow and it is expected that the results will be outstanding.
Price: Rs 222
Target: Rs 238 – Rs 240
Stop Loss: Rs 217
Shriram Transport Finance
Bhasin recommended Shriram Transport stock as his third pick. He said that Shriram Transport’s numbers are very strong and the second-hand cv cycle is doing extremely well.
Price: Rs 1120.25
Target: Rs 1175 – Rs 1185
Stop Loss: Rs 1090