The stock market is going through a correction phase these days. Market experts believe that one should not try to find the bottom in the market and invest in stocks with good valuations at this time.

Stock market expert and Senior Vice President of Geojit Financial Services, Gaurang Shah has said that the possibility of further decline in the market cannot be ruled out and the recent bounce should not be understood as the end of the correction phase.

He said that the markets may move in a limited range and will try to form a base before the bounce by consolidating in the range. He said that the results of the US presidential election will definitely affect the market, so the US market and global markets may remain volatile right now.

Stock market expert Gaurang Shah has recommended several stocks to buy:
 

Canara Bank Ltd

Gaurang Shah said that as far as PSU bank stocks are concerned, many public sector banks have given good results in the second quarter, so my advice is that you invest in SBI, Canara Bank, PNB, Bank of Baroda, Bank of India, and Indian Bank.

He said that since the earnings of PSU banks continue to improve, the shares of Canara Bank, PNB, BOB, SBI, BOI, and Indian Bank will also perform well. He said, "Since these stocks have already corrected and after the recent quarterly earnings, I think their rating can be done again.

He said that I am confident that SBI, BOB, BOI, Canara Bank, and India will perform well in the coming quarters (Q3 and Q4) and also in the next financial year.

Zomato Ltd

Gaurang Shah said that he has been advising to buy Zomato stock for a long time. He had advised me to buy Zomato shares even during the fall. The company is continuously showing improvement in its earnings.

He said that recently Zomato shares touched an all-time high and then slipped into a phase of correction. The second quarter results were strong and based on the current performance, the target on Zomato shares is Rs 285.

He said that even at the current level of Rs 246-248, my advice is to buy more or add more shares.

yes bank
 

Gaurang Shah said that the price of a stock should not be a measure of investment, rather you should make a decision keeping in mind the performance of the company. At present, there are many such options in the banking sector, from where good returns can be obtained. He said, "Yes Bank's second quarter performance was good, but if you analyze the quarterly performance, you will find that the bank gives good results in 1-2 quarters and then gives disappointing results in the next quarters. This is the main reason why there is extreme volatility in Yes Bank's shares. The management is trying to stabilize the performance. Gaurang Shah said that IDFC First Bank can be a better option in private banks instead of Yes Bank. He said that my advice is to invest in IDFC First Bank.

Gail (India) Ltd
 

Gaurang Shah said that companies like GAIL (India) are benefiting from the policy change. Both public and private sector companies are benefiting from the change in policies.

He said that it is expected that as our companies increase their operations, our dependence on crude oil imports will decrease. In the case of GAIL, my advice is to buy it and add it on the dip.