This stock included in Rakesh Jhunjhunwala’s portfolio is nearing its 52-week low, experts are giving buying advice, know the reason?

Rakesh Jhunjhunwala portfolio: Star Health Insurance, included in the portfolio of Big Bull Rakesh Jhunjhunwala, was listed in the Indian market on 10 December 2021. The listing of this stock was bad but in the days after the listing, buying was seen in this stock and it was seen going up to Rs 940 per share. Which is still its life time high. The stock has been under constant pressure ever since touching its lifetime high and is currently approaching its 52-week low of Rs 712.15 per share. In such a situation, the retail investor may feel that there has been a lot of decline in it and now this stock should be bought. Explain that this stock has slipped 20 percent below its upper price band of Rs 900.

Let’s know now what is the advice of experts on this stock

GCL Securities Ravi Singhal It is said that most insurance companies had to increase their provisioning during Kovid. During this, due to the increasing cases of Kovid, there was a sudden increase in the claim. Due to which these companies came under pressure. Star Health was no exception, but with the decline in COVID cases, it is expected that Star Health will see a strong growth in profit due to reduction in provisioning. Therefore, it is expected that the company’s results will be very strong in the coming quarter.

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Sumeet Bagdia of Choice Broking It is said that investors investing money from a short term perspective should wait for a few sessions. Since this stock is circling in the small range of Rs 710-750. The direction of this stock will be decided even if there is a breakdown or breakout on either side of this range. If the stock gives a breakout above Rs 750 on closing basis then buy it with a stop loss of Rs 710 for a short term target of Rs 825 -850.

Sumeet Bagadia also warned that if this stock breaks the support of Rs 710, then it can also see a lower level of Rs 660-650.

Ravi Singhal of GCL Securities Says that getting around Rs 725-750, this stock can be bought with a stop loss of Rs 640 with a target of Rs 1000-1100 for 6 months.

Let us inform that Rakesh Jhunjhunwala and Rekha Jhunjhunwala have a combined stake of 10,07,53,935 equity shares or 17.50 percent in of Star Health Insurance.

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