Here are some top trading ideas by Sanjiv Bhasin

In an interview to CNBC-TV18's Latha Venkatesh and Sonia Shenoy, Sanjiv Bhasin of IIFL shared his reading and outlook on the market and also gave recommendations on various stocks.Below is the verbatim transcript of Sanjiv Bhasin’s interview to Latha Venkatesh & Sonia Shenoy on CNBC-TV18.Latha: IT stocks, fresh salvo in terms of suspension of quick processing worries you?A: Well, yes and no; the stocks are inherently showing a lot of strength on the back of negative rhetoric and I think it all got priced in during that fall closer to the Trump re-election. I think this to and fro on the rhetoric will go on. We still think that positive outcome may come out and in the short-term because the stocks have run-up, so you could see some bounce of profit booking. However, we have been contrarian and we have been long on some of the largecaps, particularlyInfosys, Tata Consultancy Services (TCS), andWipro, and we still reiterate buy on declines to have at least a 20 percent weightage of IT in your portfolio going ahead. Sonia: It is an interesting week for retail investors because we have two IPO’s that open up, the much awaited D-Mart and we also have Music Broadcast which opens today from the Jagran Group. Any of these that you would recommend investors to get into?A: Given the hype D-Mart has got, we had a proxy play on Future Group stocks and they have already jumped 70 percent as a corollary to that. I think it will be heavily oversubscribed and given that in this rally in the last two months most people generally have missed out, I think there will be a big scramble for it. Notwithstanding I would still say that both of them could give a pop on listing. So, if you have the vision for some time to go ahead, you could make money in both of these. However, the caveat would be that they will be very heavily oversubscribed.Sonia: A quick word on Bharat Forge, you have been tracking that closely, do you see it get to its all-time highs of Rs 1,300-1,350 anytime soon because of the strong data that we have? A: We had an overweight on Bharat Forge all the way from Rs 775; we have being reiterating a buy on decline. We had a target of Rs 1,250, but I think definitely Rs 1,350 now seems very much on the cards. It continues to be the third largest play on forging and it is seeing excellent traction in the North American transport market and that actually is going to be the bellwether to ride given that the US indices are hitting high. So, the best proxy to play the US market would be Bharat Forge. Also, the caveat that in the domestic market the defence equipment and the defence orders, this will be one of the bigger beneficiaries. So, buy on decline continues for Bharat Forge and like you said, Rs 1,250 maybe preceded on the upside for a target of Rs 1,350.