DHFL share price plunges nearly 30%, hits lower circuit; for investors, experts slap 'Sell on Rise' recommendation

DHFL share price hit the lower circuit in the intraday trade in the morning session as the BFSI stock crashed nearly 30 per cent on Monday. According to the stock market experts, the DHFL share price is very weak. DHFL share price has crashed more than Rs 20 today and has reached to Rs 48.10 per stocks today. Both technical and fundamental experts are expecting further bearish trend in the DHFL stock and have recommended stock market investors to exit at any rally if they have any holding in it and since it is available in futures, 'sell on rise' is the recommendation they have slapped to the DHFL stocks.

Speaking on the technicals of the DHFL share price Simi Bhaumik, a SEBI registered technical equity expert said, "The DHFL shares price is very bearish and stock market investors having a position in the stock are advised to come out of the position on any rise. It is expected to show Rs 32 per stock levels in the next few trading sessions and may further go down as the stock has no signs of recovery."'

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Prakash Pandey, Head of Research at Fairwealth Securities said, "Promoters of DHFL has already announced that the company is going through a tough phase, which is getting reflected into its Q1FY20 results. In fact, DHFL promoters have failed to give any road map for company's revival that has created a panic button among the stock market investors."

Pandey further said that the DHFL shares are available in futures and hence investors should carve themselves away from the counter and those having held the counter should sell it on any rise as it may go down to its base price in coming two to three months."