Earning Opportunity: This big brokerage firm is bullish on this share of Rakesh Jhunjhunwala's portfolio

Earning Opportunity: This big brokerage firm is bullish on this share of Rakesh Jhunjhunwala’s portfolio

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new Delhi. Domestic brokerage and research firm HDFC Securities has given a buy advice on Delta Corp shares. The firm has written in its note that this stock has recently moved upwards by breaking the Rectangle Pattern on the chart. Now it is expected that these shares show good growth.

The stock of Delta Corp touched its previous high on January 14, 2022 and fell from there. After falling, it stopped at the level of Rs 250, which has been acting as a strong demand zone in the past as well. Now that it has come out after breaking its rectangle, it can be said that it will carry forward its ongoing uptrend.

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HDFC Securities has said in its note that this Delta Corp stock has gone up several times with support at the lower band of Bollinger band. Relative Strength Index (RSI – 14) has also taken support at 40 level on the daily chart and is moving up. Another indicator MACD has also seen a positive divergence on the histogram.

What is target and stoploss?
The brokerage firm has given buy advice on Delta Corp shares with a target price of ₹ 332 to ₹ 350. The brokerage firm has also said to put a stop loss of ₹ 284 for this. This stop may take around 3 months to reach this target. During the last 1 year period, this stock has given 75% return and if we talk about this year then it is giving about 17% return.

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Rakesh Jhunjhunwala’s stake
Delta Corp Limited is a leading player in the casino (live, electronic and online) gaming industry in India. Started as a textile and real estate consultancy company in 1990, the company has now expanded into different sectors like casino gaming, online gaming, hospitality and real estate. As per the recent shareholding pattern on BSE, Indian veteran investor Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala hold 4.31% and 3.18% respectively in this stock.

Tags: Rakesh Jhunjhunwala, Stock tips

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