Rakesh Jhunjhunwala Portfolio Amid the onset of the results season and the listed companies putting their shareholding patterns in the public domain, retail investors are closely following the portfolios of a handful of investors to ascertain the value picks. For such retail investors of the Indian stock market, a share of Rakesh Jhunjhunwala remains firmly above 102 is the hurdle and it is poised to go up to 40 percent in near future. The stock we are talking about is Steel Authority of India Limited or SAIL and expects to go up 144 per share in the next 3 months.
According to stock market experts, SAIL’s share price has crossed a strong hurdle. 102 on closing basis and has remained above this level in recent sessions. He said that Rakesh Jhunjhunwala can include portfolio stock in his portfolio for short term target. 144 levels.
Highlighting the reasons for this PSU stock being bullish; Sumeet Bagadiya, Executive Director, Choice Broking said, “On the weekly chart, Rakesh Jhunjhunwala stock is forming a Bullish Flag pattern, which is a continuation pattern and indicates a bullish presence for the longer term. Moreover, the price is trading off Ichimoku. Is trading higher. Cloud formation and 50-Week Simple Moving Average suggest a bullish trend for the longer term. On the daily chart, the stock is trading in a channel formation with support at the middle Bollinger Bands is gaining, which indicates that something is back near term.” Experts at Choice Broking said SAIL stocks can be added to your portfolio for both short-term and long-term time horizons.
On their suggestions to retail investors; Ravi Singhal, Vice Chairman, GCL Securities said, “Nifty Metal Index has given a breakout recently and this is expected to give rise to SAIL share prices in near future. My suggestion to retail investors is to buy SAIL shares. Buy for the near term at the current market price. 130 more Maintaining Stop Loss at 144 97 each level.” Ravi Singhal of GCL Securities said that any fall in PSU Metal stock from current levels should be seen as a buying opportunity and one should keep the stock going higher. 102 per share level.”
Rakesh Jhunjhunwala’s stake in SAIL
As per SAIL’s shareholding pattern, Big Bull Rakesh Jhunjhunwala holds 7.25 crore shares or 1.76 per cent stake in the PSU company.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
Never miss a story! Stay connected and informed with Mint.
download
Our App Now!!
,