Geo-political risks are likely weigh on Indian markets for some more time and in short term Nifty can go down to 8,400 levels, says Sanjiv Bhasin executive vice president - markets & corporate affairs with India Infoline. He is bullish on select mid-cap shares and advises investors to buy stocks on dips. Below are his top picks from the mid-cap space:
Stock Talk
Buy United Spirits: We are bullish on the consumption space and the stock can go up to Rs 2,750-2,800 by Diwali.
Buy Tata Global Beverages: Starbucks brand is playing out well for this company and investors should look to buy this stock.
Buy Phoenix Lamps: Investors can buy this stock with stop loss at Rs 152 for target of Rs 175. It can go up to Rs 190.
Buy Wipro: The stock price has bottomed out around Rs 470-475. It is one of the large-cap IT stocks and in the second half of this fiscal year, the stock can stage up to 30 per cent.
Buy UltraTech Cement: We have a bullish stance on cement space. Volume growth is expected to pick up from October when construction activity starts to gain momentum.
Buy SBI: Investors can look to SBI around Rs 220.
Avoid telecom stocks: Investors should avoid buying telecom stocks as pricing war will not augur well for these companies.
Buy Cosmo Films: Investors can by Cosmo Films for target price of Rs 450 with stop loss at Rs 369. The stock can go up to 475-500 by Diwali.
Buy Godrej Properties: Stock is a proxy play on the real estate sector with large order visibility. The stock is an excellent buy at current levels for target of Rs 425.
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