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Rakesh Jhunjhunwala portfolio: Experts give 'buy on dips' tag to this 200 share

Rakesh Jhunjhunwala portfolio: In the recent selloff, Indiabulls Housing Finance shares have given breakdown at  ₹250 and is now close to its strong support at  ₹200 per stock levels, say stock market experts. (MINT_PRINT)Premium
Rakesh Jhunjhunwala portfolio: In the recent selloff, Indiabulls Housing Finance shares have given breakdown at 250 and is now close to its strong support at 200 per stock levels, say stock market experts. (MINT_PRINT)

  • Rakesh Jhunjhunwala portfolio: Indiabulls Housing Finance shares could be a potential quality stock to buy for long-term target of 440 per share levels, say stock market experts

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Rakesh Jhunjhunwala portfolio: Amid violent decline in Indian stock market, Indiabulls Housing Finance share price — one of the Rakesh Jhunjhunwala stocks — has crashed to the tune of 17 per cent in last 5 trade sessions. According to stock market experts, this housing finance stock is one of the quality stocks that have been dipping due to short-term negative sentiment. They went on to add that amid falling market, this could be the potential quality stock to buy for long-term target of 440 per share levels.

Advising stock market investors to buy this Rakesh Jhunjhunwala portfolio stock; Sumeet Bagadia, Executive Director at Choice Broking said, "In the recent selloff, Indiabulls Housing Finance shares have given breakdown at 250 and is now close to its strong support at 200 per stock levels. One can buy this Rakesh Jhunjhunwala stock at current levels maintaining stop loss at 200 for short-term target of 240 to 260." Bagadia said that the stock has strong hurdle at 250 to 260 levels. But, once it breaks this strong hurdle, we can expect sharp upside movement in the counter.

Advising investors to maintain buy on dips strategy; Ravi Singhal, Vice Chairman at GCL Securities said, "Indiabulls Housing Finance shares are one of those stocks in the Indian markets that have fallen in recent selloff despite having strong fundamentals. So, one can expect sharp rebound in such quality stocks once there is trend reversal in the market. So, one should maintain buy on dips strategy in the counter. It may go up to 290 in short-term whereas in long 3 years term, the stock may go up to 440 levels."

Rakesh Jhunjhunwala share holding in Indiabulls Housing Finance

As per shareholding pattern of Indiabulls Housing Finance for July to September 2021 quarter, Rakesh Jhunjhunwala holds 50 lakh company stocks, which is 1.08 per cent of the net paid-up capital of the company.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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