Coal India and NTPC: Coal India and NTPC are his absolute favorites says market expert Sanjiv Bhasin.
The entry point recommended for Coal India is Rs 440.
The demand for power and thermal capacity is also going to increase the rationale for Coal India.
Coal India is surely headed for a major uptick, according to market veteren.
HDFC Life: Market Veteren turned bullish on HDFC Life.
Authored by : Anubhav Maurya Updated Jun 6, 2024 | 03:46 PM IST he 30-share BSE Sensex staged a strong recovery after a sharp fall on Tuesday. (Image: IIFL Securities/Shutterstock/ET NOW News)
Sanjiv Bhasin Top Picks: Benchmark indices Sensex and Nifty made a strong recovery during Wednesday’s session after they witnessed a sharp fall in the previous session as value-buying at lower levels propelled the markets. India VIX or the fear gauge index ended 29.39 per cent down.
The 30-share BSE Sensex staged a strong recovery after a sharp fall on Tuesday as the benchmark index settled 2,303.19 points or 3.20 per cent up at 74,382.24. The NSE Nifty climbed 735.85 points or 3.36 per cent to settle at 22620.35.
In a highly volatile market, investors constantly look for stock recommendations and buying opportunities. Despite wide fluctuations, there are some stocks which have displayed resilience and a good business model with promising growth prospects goes without saying. Market expert Sanjeev Bhasin in exclusive talks with ET NOW Swadesh suggests some top stock recommendations.
Coal India and NTPC: Coal India and NTPC are his absolute favorites says market expert Sanjiv Bhasin. The entry point recommended for Coal India is Rs 440. The stock has not made it to the points as desired, but its power cells in merchant market and the best ever quarterly numbers in the history of the company makes it an absolute pick. The demand for power and thermal capacity is also going to increase the rationale for Coal India. The stop loss is at Rs 428 and the target is Rs 478, which is followed by a rise to Rs 490. Coal India is surely headed for a major uptick, according to market veteren.
HDFC Life: Market Veteren turned bullish on HDFC Life. The Gross Net Value Addition and Surrender Value and the proposal by IRDA will have no effect on the company, he added. He said that the company spells well for a defensive stock in the insurance space. HDFC Life can be bought with a target of Rs 578 and a stop loss of Rs 515.
AB FRL (Aditya Birla Fashion Retail Limited): AB FRL has been his favourite, mentioned twice. The stock has the potential to be a ‘doubler’ as the market cap does not justify the pan India sales and presence of brands. The market veteran has set the target price of Rs 309 and stop loss of Rs 252.
Market View Sanjeev Bhasin also predicted that the market will rally by 500- 700 points and investors should not exit these stocks. The confidence has to be built with these shares as they have been consistent and are sure to provide good gains.
The market expert concludes that the aforesaid stocks were the same as mentioned in the last piece and there is no need to buy any new shares. Investors have to turn more confident on these stock picks which include HDFC Life, SBI Life, Coal India, AB FRL, and Vodafone-Idea, are the same as discussed previously and they are sure to provide good profits.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
