BackRakesh Jhunjhunwala portfolio stock may surge 20% in one month. Should you buy?
Rakesh Jhunjhunwala stock is looking positive on chart pattern and it is expected to give fresh breakout above ₹300 to ₹302 apiece levels, market experts believe
PremiumRakesh Jhunjhunwala portfolio is closely followed by retail investors as it helps them find value picks. For such stock market investors, experts have bet high on Fortis Healthcare share price outlook. They said that Rakesh Jhunjhunwala stock is looking positive on chart pattern and it is expected to give fresh breakout above ₹300 to ₹302 apiece levels. Market experts advised investors to buy this portfolio stock at current levels for up to 20 per cent gain in one month.
Speaking on Fortis Healthcare share price target in short term; Sumeet Bagadia, Executive Director at Choice Broking said, "Fortis Healthcare shares are looking positive on chart pattern after sustaining above ₹260. It may soon give breakout above ₹300 to ₹302 on closing basis. After this breakout, this Rakesh Jhunjhunwala portfolio stock may soon go up to ₹340 in immediate short term. One can buy this counter at current market price for one month target of ₹340 maintaining stop loss at ₹260 per share levels." He said that Fortis Healthcare shares have shot up around 11 per cent in one week and hence there can be some profit-booking. But, ₹260 is expected to work as strong support and hence any dip in the counter can be a good buying opportunity for positional investors.
Expecting fresh rally in Fortis Healthcare shares; Ravi Singh, Head of Research & Vice President at ShareIndia said, "Fortis Healthcare is currently trading around ₹280 levels and it made a high of ₹303.80 in August this year. Strong fundamentals, robust earnings, improved PAT, reducing liabilities and increasing EBITDA are supporting the prices towards upward direction." Ravi Singh of ShareIndia said that Fortis Healthcare stock may remain volatile in upcoming sessions but its strong support zone of ₹250 to ₹260 is expected to remain intact. He advised Fortish Healthcare shareholders to hold the counter as the stock may give some upside movement in medium to long term as well.
Rakesh Jhunjhunwala holding in Fortis Healthcare
As per Fortis Healthcare shareholding pattern for July to September 2021 quarter, Rakesh Jhunjhunwala holds 3,19,50,000 company shares, which is 4.23 per cent of the total issued 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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