There is a wall of liquidity in the stock markets that are helping them make new highs, market expert Sanjiv Bhasin said. In chat with Zee Business Managing Editor Anil Singhvi, the IIFL Director said that there is a feeling of getting left out and no amount of calls to be cautious will deter investors from participation. He said that in such a situation, the advice to investors is to go with the motion – remain long on some stocks while short on some others.
Bhasin said that metals stocks are seeing a new rally and advised investors to be vary of the current euphoria. He said that investors should remain on both sides of the markets – buy and sell.
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On updates on previous stock recommendations, he said IGL has hit its target. He said that people should stay put on Infosys stock. Jindal Steel has also achieved its targets.
Top Stocks to Buy: Indiabulls Housing Finance
He said that the housing finance and mortgage sector is seeing a new upturn. He picked Indiabulls Housing Finance which has a market capitalization of Rs 8,900 cr and the price to book ratio at half times. The risk-to-reward ratio is very favourable for a 50 per cent upside, he said.
He recommended buying around Rs 202 and puts the stop loss at Rs 195. The target for traders is Rs 230.
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Top Stocks to Buy: Sun Pharma
Bhasin’s second pick was a pharma sector stock. He picked Sun Pharma and said that he was bullish on this stock. This stock is currently trading around Rs 572. He puts the stop loss at Rs 560. He puts the target price at Rs 615 for traders.