Policybazaar’s share price fell 10% in weak markets. Should you buy on this dip?

According to stock market analysts, Policybazaar share price may witness a strong jump as it is expected to get good trading volume with the renewal of the policy. He added that the timing is opportune as this fall may be short-lived and the stock may rise soon. 1000 level in the short term.

Speaking on Policybazaar share price chart; Sumeet Bagdia, Executive Director, Choice Broking said, “The stocks of PB Fintech have strong support 750 and it can go up 720 to 700. Hence, positional investors should wait for some time as the stock is expected to move higher after giving breakout above 850 on a closing basis.”

Resonating with the thoughts of Sumeet Bagdia; Anuj Gupta, Vice President, IIFL Securities said, “The share price of the policy market has declined by almost 50 per cent since the listing. 1470 levels. The current quarter is considered to be the peak business quarter for the company as the demand for life and mediclaim policies traditionally picks up towards the end of the financial year. The stock may see a bounce from the current levels. but it has strong support from 750 760 levels. High-risk investors may buy or deposit in this stock as it may test from 950 1000 level in the short term.”

Throwing light on the fundamentals of Policybazaar; Ravi Singhal, Vice Chairman, GCL Securities said, “The main income of Policy Bazaar or PB Fintech comes from policy renewals. As policy renewals increase in the last quarter of the financial year, it is expected to report strong Q4 numbers. Hence , the current fall is a good opportunity for the buyers but, they should buy from 750 Stop for a long term goal of 760 more 1200.” Ravi Singhal of GCL Securities recommends strict stop loss 700 levels.

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