Time to be a little bit greedy now; 4 stocks where Sanjiv Bhasin wants to chase new highs

economictimes.indiatimes.com:

Sanjiv Bhasin, Director, IIFL Securities, says “Tech Mahindra, HCL Tech and Persistent continue to be my three top picks there. But, right now, I am seeing more flavour in other players. Apollo Hospital, SBI Life, HDFC Life, BEL.

These are some of the names which are pedigree stocks, which have hit new highs. I want to chase new highs over here and I want to be in stocks which will rebound faster than the market.”What is your view on the market?Bas chal raha hai, thoda sa uncertainty jo much needed correction tha wo aagaya. Buying opportunity hai (Market is as usual.

There is a little bit of uncertainty and finally a much-needed correction. There's a buying opportunity now). So, take it with a pinch of salt that you would not get unwarranted corrections unless they are imposed on you.

At that time, one shouldn’t be fearful. It is time to be a little bit greedy, just as you had to be a little fearful at 19,900 and 20,000. I still think there is a lot of steam in the market and by the way, I was in Deutsche Bank in Hong Kong when S&P actually upgraded Lehman Brothers.

One week after that Lehman Brothers went bust. So, rating agencies generally react when water has flown under the bridge and one should be taking it with a pinch of salt. Yes, there was a much needed correction.

But that is part and parcel of the smart runup which we have seen.I agree with you that you should buy. But should you buy now or should you buy later? Frankly, we have seen about a 400-point correction on the Nifty and that is not even 5% and good quality stocks have not corrected at all. So, while directionally in terms of approach, you want to be a buyer, is it time to buy now or wait for a slightly deeper cut?Well, that depends on your risk