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    Bajaj Auto has given break out; HDFC Life offers good risk reward: JM Fin

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    Bajaj Auto has given break out; HDFC Life offers good risk reward: JM Fin

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    Rahul Sharma of JM Financial Services is bullish on defensives, IT, insurance, pharma and telecom.

    Rahul Sharma of JM Financial Services is bullish on defensives, IT, insurance, pharma and telecom.
    “Broadly, there is a sector rotation which is expected to happen and we stay bullish on defensives, well as on midcaps and smallcaps,” Sharma said in an interview with CNBC-TV18.
    “We are very bullish on HDFC Life, that stock has corrected in the last few days and now at these levels it offers a good risk reward for the long opportunity,” he said.
    Sharma recommends booking profits in banking shares.
    “Somebody holding banks, we are advising them to book profits if they are investors. As a trade obviously look for key levels to get into and take those individual trades,” he said.
    In the auto sector, Sharma is bullish on Bajaj Auto.
    “I would go with Bajaj Auto which has actually given a breakout in today’s session and can be looked upon for longs for target of around Rs 3,400-3,500 odd. Auto should do well, momentum is pretty high but at the same time I would look at technical breakouts wherever we can have a quicker return and sort of catching on the momentum,” he said.
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