07 Dec , 2021 By : Kanchan Joshi
Rakesh Jhunjhunwala portfolio: After touching a low of Rs203 per share levels, Indiabulls Housing Finance share price gave fresh breakout on Friday at Rs255 levels. However, the housing finance stock immediately witnessed profit-booking and the stock finally closed at Rs244.50 per share on NSE. According to stock market experts, the stock may further go down if the negative bias at the stock market continues but this Rakesh Jhunjhunwala stock will be one of the sharp upside movers once there is trend reversal at the Dalal Street. They advised investors to maintain 'buy on dips' strategy as the stock may go up to Rs300 per share levels in short-term.
Suggesting buy on dips strategy to stock market investors; Sumeet Bagadia, Executive Director at Choice Broking said, "Indiabulls Housing Finance shares have given fresh breakout on Friday session before heavy selloff triggered on Omicron uncertainty. This stock looks positive on chart pattern and any dip in the counter should be seen as buying opportunity. One can buy the counter for short-term target of Rs275 to Rs300 levels."
Echoing with Sumeet Bagadia's views; Ravi Singh, Head of Research & Vice President at ShareIndia said, "The banking and financial sector is outperforming the benchmark indices due to increased retail participation in the capital market-linked businesses. Indiabulls Housing Finance share is currently trading around Rs245-250 levels after touching a low of Rs203 levels last month. It has been in continuous uptrend after making this rs203 low. Now all technical setups are showing that the stock is in strong hand despite the offloading news of BNP Paribas Arbitrage and Soc Gen. Indiabulls Housing Finance share is sustaining high volatility with a strong upside move and may touch Rs300 levels in near term. The stock may give 20 per cent return from current levels."
Unveiling day trading guide for Tuesday, Ravi Singh of ShareIndia advised positional investors to keep on accumulating Indiabulls Housing Finance share till it is above its recent low of Rs203 as it will be one of the fast upside movers after the trend reversal in the stock market.
Rakesh Jhunjhunwala holding in Indiabulls Housing Finance
As per Indiabulls Housing Finance shareholding pattern for July to September 2021 quarter, Rakesh Jhunjhunwala holds 50 lakh Indiabulls Housing Finance shares or 1.08 per cent stake in the company.
0 Comment