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Home / Markets / Stock Markets /  Rakesh Jhunjhunwala portfolio: Experts give 'buy' tag to this 250 stock
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Rakesh Jhunjhunwala portfolio: After touching a low of 203 per share levels, Indiabulls Housing Finance share price gave fresh breakout on Friday at 255 levels. However, the housing finance stock immediately witnessed profit-booking and the stock finally closed at 244.50 per share on NSE. According to stock market experts, the stock may further go down if the negative bias at the stock market continues but this Rakesh Jhunjhunwala stock will be one of the sharp upside movers once there is trend reversal at the Dalal Street. They advised investors to maintain 'buy on dips' strategy as the stock may go up to 300 per share levels in short-term.

Suggesting buy on dips strategy to stock market investors; Sumeet Bagadia, Executive Director at Choice Broking said, "Indiabulls Housing Finance shares have given fresh breakout on Friday session before heavy selloff triggered on Omicron uncertainty. This stock looks positive on chart pattern and any dip in the counter should be seen as buying opportunity. One can buy the counter for short-term target of 275 to 300 levels."

Echoing with Sumeet Bagadia's views; Ravi Singh, Head of Research & Vice President at ShareIndia said, "The banking and financial sector is outperforming the benchmark indices due to increased retail participation in the capital market-linked businesses. Indiabulls Housing Finance share is currently trading around 245-250 levels after touching a low of 203 levels last month. It has been in continuous uptrend after making this 203 low. Now all technical setups are showing that the stock is in strong hand despite the offloading news of BNP Paribas Arbitrage and Soc Gen. Indiabulls Housing Finance share is sustaining high volatility with a strong upside move and may touch 300 levels in near term. The stock may give 20 per cent return from current levels."

Unveiling day trading guide for Tuesday, Ravi Singh of ShareIndia advised positional investors to keep on accumulating Indiabulls Housing Finance share till it is above its recent low of 203 as it will be one of the fast upside movers after the trend reversal in the stock market.

Rakesh Jhunjhunwala holding in Indiabulls Housing Finance

As per Indiabulls Housing Finance shareholding pattern for July to September 2021 quarter, Rakesh Jhunjhunwala holds 50 lakh Indiabulls Housing Finance shares or 1.08 per cent stake in 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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