Sanjiv Bhasin’s stocks picked for the next week: Indian shares ended in the red zone for the second straight session on Friday, following weak global cues following the US Fed commentary. IT sector is facing selling pressure due to Nasdaq selloff. Realty stocks came under selling pressure as rising rates may reduce demand for properties. Among major benchmark indices, the Nifty 50 index ended 145 points lower at 18,269, while the BSE Sensex declined 461 points to close at 61,337. The Bank Nifty index fell 278 points to close at 43,219.
Sanjeev Bhasin, Director IIFL Securities He believes that the reopening is going to see an increase in demand. This could see Chinese stocks reacting better to the current economic slowdown. Sanjeev Bhasin of IIFL Securities said the 50-stock index Nifty is likely to take support near 18,300 levels, while its immediate resistance is placed at 18,800 mark. Sanjeev Bhasin further said bank nifty It is taking support near 43,000 levels while facing resistance near 43,900 levels.
Speaking on the Indian stock market outlook, Sanjiv Bhasin said, “In morning deals in the weekend session, Japanese Nikkei was down over 350 points. Taiwan’s indices and ASX were also in the red zone. Technology stocks led the decline.” Done. Sugar stocks may decline. Remain relatively untouched in coming sessions as reopening sees demand pick up. This could make sugar stocks react better to current economic slowdown.
Sanjiv Bhasin stocks up for next week Sanjiv Bhasin of IIFL Securities said when asked about his pick of stocks for next week, he said short term traders can buy Mahindra CIE Automotive While future traders can look at Tech Mahindra December future and SRF December future. Sanjiv Bhasin Stock Market Strategy On the market outlook for this week, Sanjiv Bhasin of IIFL Securities said, “Nifty is likely to take support around 18,300, while 18,800 is likely to act as resistance. Support is likely to be found around 43,000 while 43950 is likely to act as resistance on the upside.”
Here we give complete details regarding Sanjiv Bhasin’s stock market strategy for this week:
Short term (2-3 days): Buy Mahindra CIE Automotive here 311–315. Stop Loss: 305. Goal: 319.
Business Ideas (Time Duration: 1- 2 Days): buy srf dec Future , 2385-2400. Stop Loss: 2345. Goal: 2460.
Derivative Strategy (Time Period: 1 Month): Buy Tech Mahindra December Future @ 1025–1035. Stop Loss: 1009.5. Target: 1055.
Disclaimer: The views and recommendations given above are of individual analysts or broking companies and not of Mint. We advise investors to do due diligence with certified experts before making any investment decision.
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