10 Mar , 2022 By : Kanchan Joshi
Paytm share price today bounce back from its lower trend zone and registered around 5 per cent rise in today's session. Following trend reversal in Indian stock market today, Paytm shares today opened rs16.65 per share higher and went on to ascend to its intraday high of rs795.80 apiece levels. If we look at the life-time low of rs728.05 levels, Paytm share price has surged near 9 per cent in last two day from its lows.
According to stock market experts, Paytm share price has been appreciating on the short-term positive sentiments of Dalal Street. They said that market is expecting breakthrough in today's Russia-Ukraine talks and this sentiment further gained momentum after BJP's victory in UP and some other states where they were in power. They said that stock may go up to rs900 per share levels but sharp upside can be expected after breakout at rs1100 levels. Long term positional investors can buy this counter for up to 2 years target of rs1800 levels.
Expecting this bounce back in Paytm shares to continue; Anuj Gupta, Vice President at IIFL Securities said, "Paytm shares had slipped into the oversold zone. In last two days, it has come out from the down trend and it may go up to rs850 to rs900 levels in near term to short term. One can buy Paytm shares at current price for short term target of rs900 maintaining stop loss at rs720 levels."
Highlighting fundamental triggers that may fuel Paytm share price further; Ravi Singhal, Vice Chairman at GCL Securities said, "Paytm has recently announced its special focus on online banking operations and services, which is expected to given rich business volume to the fintech firm in long term. As the stock has been under excessive beating post-listing, it is available at an attractive valuations and one can thing of buying Paytm shares at current levels for 1-2 years target of rs1375 and rs1800 maintaining stop loss at below its life-time low of rs728.05 levels."
Unveiling important levels on Paytm share price chart pattern; Sumeet Bagadia, Executive Director at Choice Broking said, "Paytm shares are currently in the range of rs730 to rs850 apiece levels. Once it manages to break its upper hurdle, there can be some more upside in the scrip. However, one can sharp upside momentum in this scrip once it gives breakout above rs1100 apiece levels on closing basis."
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