Rakesh Jhunjhunwala Portfolio after touching the lower level of At 203 per share level, Indiabulls Housing Finance share price gave fresh breakout on Friday 255 levels. However, the Housing Finance stock saw immediate profit booking and the stock finally closed at 244.50 per share on NSE. According to stock market experts, if the negative trend continues in the stock market, then the stock may fall further, but after the trend reversal on Dalal Street, this stock of Rakesh Jhunjhunwala will be one of the fast movers. He advised investors to maintain ‘buy on dips’ strategy as the stock could go up 300 per share level in the short term.
To suggest buying strategy on dips to the stock market investors; Sumeet Bagadiya, Executive Director, Choice Broking said, “Indiabulls Housing Finance shares gave a fresh breakout in Friday’s session before heavy selling started on Omicron uncertainty. The stock looks positive on the chart pattern and counters any downside. Should be seen as a buying opportunity. Can buy counter for short term target of 275 to 300 levels.”
Resonating with the thoughts of Sumeet Bagadiya; Ravi Singh, Head of Research and Vice President, ShareIndia said, “Banking and financial sector are outperforming benchmark indices due to increase in retail participation in capital market related businesses. Indiabulls Housing Finance stock is currently trading around Rs. After touching the low of 245-250 203 level last month. It has been in a continuous uptrend since it was formed 203 less. Now all technical setups are showing that the stock is in a strong hand despite offloading news from BNP Paribas Arbitrage and Sos General. Indiabulls Housing Finance share is maintaining high volatility with a strong upside move and may touch 300 level in the near term. The stock can give returns of 20 per cent from current levels.
Unveiling the day’s trading guide for Tuesday, Ravi Singh of ShareIndia advised positional investors to keep investing in Indiabulls Housing Finance stock till it crosses recent lows. 203 because it will be one of the fast movers after the trend reversal in the stock market.
Rakesh Jhunjhunwala’s holding in Indiabulls Housing Finance
As per Indiabulls Housing Finance’s July to September 2021 quarter shareholding pattern, Rakesh Jhunjhunwala holds 50 lakh shares of Indiabulls Housing Finance or 1.08 per cent stake in the company.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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