There is an upward resistance in this stock at Rs 250-260 level, but once this resistance is broken, there can be a strong rally in this stock.
Indiabulls Housing Finance, which is included in the portfolio of Rakesh Jhunjhunwala, is seeing a steady decline. The stock has fallen 17 per cent in the last five sessions. Experts believe that this stock of Housing Finance Company is one of those quality stocks which is going down due to short term negative sentiment. Due to the huge fall in the market, the pace of decline has accelerated. He says that in view of the fall in this stock, it can be bought with a long term target of Rs 440.
‘Buy for short term target of Rs 240-260’
Sumit Bagadiya, Executive Director, Choice Broking, says that recently the stock was seen moving towards a strong support of Rs 200. In this stock, a stop loss of Rs 200 can be bought at its current price. Buying can be done in this stock for a short term target of Rs 240-260. There is an upward resistance in this stock at Rs 250-260 level, but once this resistance is broken, there can be a strong rally in this stock.
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This stock can go up to the level of Rs 440
Ravi Singhal of GCL Securities says that Indiabulls Housing Finance has seen a significant decline. Therefore, with the rise in the market, there can be a sharp rise in this stock. In the short term, we can see this stock going up to Rs 290. At the same time, in the long term, we can get to see a level of Rs 440 in it. According to the shareholding pattern of Indiabulls Housing Finance, Rakesh Jhunjhunwala’s holding was 50 lakh shares in the period from July to September 2021. It sits equal to 1.08 percent in the company.
(The stock recommendations given in the story are those of the respective research analysts and brokerage firms. Financial Express Online takes no responsibility for the same. Investments in capital markets are subject to risks. Please consult your advisor before investing.)
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