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Paytm share price: After plunging to the tune of near 40 per cent in comparison to its upper price band of ₹2150, Paytm shares today showed some sharp upside swing in early morning deals. Paytm share price today opened with an upside gap of ₹0.40 per shares and went on to make its intraday high of ₹1,454.30, logging around 7 per cent rise from its Monday close price on NSE. However, stock market experts maintained that the fintech stock may further go down up to ₹1,000 to ₹1,100 per share levels and that would be the ideal levels for fresh buyers.
Speaking on Paytm share price target; Ravi Singhal, Vice Chairman at GCL Securities said, "Paytm share are still looking weak and it may go down up to ₹1,000 to ₹1,100 per share levels. Those who have Paytm shares in their portfolio are advised to take this bounce back as an opportunity to exit and enter at around ₹1000 to ₹1100 per share levels for 12-15 months target of ₹2150 maintaining stop loss at ₹800 per stock levels."
Echoing with Ravi Singhal's views; Sumeet Bagadia, Executive Director at Choice Broking said, "Paytm shares have immediate support at ₹1200 to ₹1300 levels. Those who have Paytm shares in their portfolio should hold the counter keeping long-term time horizon. The stock is facing immediate hurdle at ₹1500. After giving breakout above ₹1500 on closing basis, we can expect some upside movement in the fintech counter."
On fresh buyers who want to buy Paytm shares, Ravi Singhal of GCL Securities said, "One should buy Paytm shares only when it is available in the range of ₹1000 to ₹1100 range, otherwise one should look at other option instead of adding Paytm shares in their stock portfolio."
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
