Sanjeev Bhasin, Director, IIFL Securities has vast experience in the stock markets. Sanjeev Bhasin is associated with the market for the last 32 years. They keep a very close watch on the movements in the markets. Clients of IIFL Securities have been making profits for years from his tips on stocks. Now Sanjeev Bhasin brings to the audience the top Conviction Picks of earnings thrice during the business day on CNBC-Awaaz.
Know which earning stock is keeping a close eye on Sanjeev Bhasin this morning-
Giving his opinion on the market, Sanjeev Bhasin told CNBC-Awaaz that Correction coming in the market is natural but according to me this is a buying opportunity. Therefore, one should buy in select sectors and select stocks. Stay away from stocks of banks and financial companies at this time. Keep an eye on cement and IT stocks. This sector has underperformed in September and I expect cement and IT sectors to outperform in October.
Buy Ambuja Cements @397/399, Stop 390, target 420
Sanjeev Bhasin recommends a buy on Ambuja Cements as the first pick for investors. He said that today cement counters are running in the market. There has been good action in UltraTech today, on which I had given a buy opinion yesterday only. So now buy into this legendary cement stock for today. He said that this stock should be bought at the level of 397 to 399. A target of 420 will be seen in this. Along with this, a stoploss of 390 should be applied in terms of safe investment.
Buy Tech Mahindra @1375/78, Stop 1348, Target 1430
As the second pick, Sanjeev Bhasin advises investors to buy Tech Mahindra. He said that its results will be the best and it will emerge as the biggest stock in the IT sector. At present it is getting at a good level due to profit booking, so buy it. He said that this stock should be bought at the level of 1375 to 1378. A target of 1430 will be seen in this. Along with this, a stoploss of 1348 should be applied in terms of safe investment.
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