In chat with Anil Singhvi, market analyst Sanjiv Bhasin, puts sell recommendation on L&T Finance, M&M Finance and Mahindra & Mahindra

In chat with Anil Singhvi, market analyst Sanjiv Bhasin, puts sell recommendation on L&T Finance, M&M Finance and Mahindra & Mahindra


As the Indian stock market continues to soar, market analyst Sanjiv Bhasin in conversation with Zee Business Managing Editor Anil Singhvi on Tuesday said that investors should be extremely cautious at the moment and should stick to their their stop-loss and exit when required. Bhasin said he gave a bearish call on Tata Steel yesterday and he still stands by his call. “When correction comes, it is fearful. So it is better to book profit when there is still time,” he said.  

Saying that second half of December is likely to be very volatile, Bhasin said he does not rule out that Nifty might show 12600 to 12,800 range by the end of December. “Market is in euphoria territory and investors should be wary of this fact. I am bullish on consumption stocks, such as autos, metals and very bearish on NBFC shares,” the market analyst said, adding this quarter could be surprise on the downside.  

watch detail coverage of the analysis in the video below: 

He gave three short calls, and all were sell recommendations. Bhasin suggested to sell L&T Finance at Rs 91.50 by maintaining stop-loss of Rs 94. He gave a target of Rs 82.50 for this stock.

L&T Finance was trading around Rs 90 during the day.  Similarly, he recommended to sell M&M Finance at Rs 174. Bhasin suggested to put a stop-loss of Rs 178 for this counter and target of Rs 160. M&M Finance share price was trading around Rs 173 during Friday’s session. Sell Mahindra & Mahindra share for Rs 745, put a stop-loss of Rs 760 and target of Rs 700 for this stock, the market analyst added.
 

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