It’s time to buy Shares? Policy Bazaar shares down 74% from record high

It’s time to buy Shares: Shares of PB Fintech, the company that runs Policy Bazaar, have fallen 74% from their record high, set in November of last year. On November 17, 2021, the price of the Policy Bazaar stock reached an all-time high of Rs 1,470. It is currently trading at Rs 386 on the BSE, down by Rs 1,084 or 73.74 percent over that time. The share price of Policy Bazaar has decreased 66.43 percent since its initial listing price of Rs 1,150. On November 15, 2021, the stock began trading at a premium of 17% over the IPO issue price of Rs 980.

The Policy Bazaar stock fell 3.12% from its previous closing of Rs 394.80 to an intraday low of Rs 382.5 during today’s trading. Shares of Policy Bazaar are currently trading below the moving averages for the 5-day, 20-day, 50-day, 100-day, and 200-day periods. However, compared to the 52-week low of Rs 373,10, Policy Bazaar shares were trading about 3% higher. A new low for the stock was reached on October 21, 2022.

Shares of Policy Bazaar have dropped 59.62% in 2022 and 22.73% in one month.

The largest online insurer in India saw a decline in market value to Rs 17,258 crore. A total of 0.31 lakh shares of the company were traded for a total revenue of Rs. 1.20 crore.

The stock is expected to decline much more, Tirthankar Das, Technical & Derivative Analyst, Retail, Ashika Stock Broking predicts, to a low of Rs 300 to Rs 310.

“Since the listing date, relentless selling pressure has caused a drop of nearly 73% from its all-time high of 1470. Technically speaking, the stock’s successive lower low formation has shown that the overall trend is still negative, and it is likely to stay that way until and until it convincingly trades above the recent swing high of Rs 500. To make matters worse, a bearish symmetrical triangle formation that has been present for a few months has enhanced the likelihood that prices will continue to decline in the future, with a lower objective of Rs 300–310 being visible.

The post It’s time to buy Shares? Policy Bazaar shares down 74% from record high appeared first on News24 English.

, International, ,

Post a Comment

Previous Post Next Post