Samvat 2078 was nothing short of a roller coaster ride for Indian investors as the markets were volatile amid recessionary fears, geo-political tensions, rupee depreciation and FIIs outflows.
However, market veteran Sanjiv Bhasin says it is the best time to stay invested in the market. The Director at IIFL Securities expects foreign portfolio investors (FPIs) to make a comeback, which will fuel the next leg of the rally on Dalal Street.
In an exclusive interview with Business Today TV, Bhasin noted that volatility and markets go hand in hand. He said Nifty has the potential to achieve the 21,000 mark in Samvat 2079.
Bhasin’s target stands in the upper limit of the 14,880-22,918 range for Nifty that a dozen of brokerages and mutual fund houses suggested for Samvat 2079 in the BT Digital Diwali survey.
Can Fin Homes, HCL Technologies, UltraTech Cement, InterGlobe Aviation and DLF are a few stocks that Bhasin has picked for Samvat 2079. His price targets on the five stocks suggest up to 43 per cent potential upside.
Check out!
Can Fin Homes
Target: Rs 750
Latest price: Rs 524.05
Upside potential: 43%
InterGlobe Aviation
Target: Rs 2,500
Latest price: Rs 1795.45
Upside potential: 39%
Ultratech Cement
Target: Rs 8,500
Latest price: Rs 6,393
Upside potential: 33%
HCL Technologies
Target: Rs 1,300
Latest price: Rs 1031.90
Upside potential: 26%
DLF
Target: Rs 500
Latest price: Rs 367.55
Upside potential: 36%
(Disclaimer: The views expressed herein are that of the respective authors/ entities, and do not represent the views of Business Today.)