Sanjeev Bhasin of IIFL Securities asking why to buy Reliance and Bank of Baroda

Sanjeev Bhasin, director of IIFL Securities, has great experience in the stock markets. Sanjeev Bhasin has been associated with the market for the last nearly 30 years. They keep a close watch on the movements in the markets. His IIFL Securities clients have been benefiting from his tips on shares. Now Sanjeev Bhasin presents the top-of-the-century conversion pics to viewers on CNBC-Awaaz thrice during the business day.

Know which earning stock is at 1 o’clock this afternoon, Sanjeev Bhasin’s keen eye-

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Sanjeev Bhasin gave an opinion on the market, saying that he has not seen such an oversold market so far in this calendar year. They will do what the Fed wants to do today. Globally, the entire market is set to show a good rally. I had also said earlier that the second fortnight of March will be good for the market. I again say that tomorrow or the day after tomorrow, a sweet rally will be seen in the market. He said that bets should be made in this bank and large cap stocks. At this time one should shop in quality stocks.

Reliance

As the first pick, Sanjeev Bhasin has advised investors to buy into Reliance. He said that at this stage without any doubt this is the best stock in which one should buy. He clarified that if the Nifty goes to 15500 then Reliance will definitely touch the level of 2350. He said that Reliance should not only look at Jio’s business but if it looks at petrochemicals, this segment is doing very well. He said that this stock should be bought at the level of 2075 to 2077. It will see a target of 2250. Also, for safe investment it should put a stoploss of 2040.

(Disclaimer: Network 18 Media & Investment Limited is owned by the Independent Media Trust. Its beneficiary company is Reliance Industries.)

Bank of Baroda

Sanjeev Bhasin recommends buying at Bank of Baroda as the first pick for investors. He said that it had done the QIP at 82.50 level which was oversubscribed at 89 level. FIIs are also bullish in this and in PSU banks this is a bank whose treasury is very strong. He said that this stock should be bought at the level of 76.5 to 76.75. It will have a target of 85. Also, for safe investment it should put a stoploss of 73.5.

(Disclaimer: Opinions and Investment Advice on Moneycontrol.com Investment experts have their own personal views and opinions. Moneycontrol advises users to consult a certified expert before making any investment decision.)

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