Gopal Snacks share price jumps 12.5% from intraday low. Buy, sell or hold?
Stock market today: Gopal Snacks shares today listed on the Indian exchanges at a discount of nearly 12.50 percent. However, the newly listed stock went further down and touched an intraday low of ₹341.80 apiece on the NSE and ₹342 on the BSE. However, Gopal Snacks share price witnessed buying interest at the lower levels, which triggered a strong bounce-back in the newly listed stock.
During this rebound, Gopal Snacks shares made an intraday high of ₹384.95 on BSE and ₹384.80 per share on NSE, logging a 12.50 percent rise from the intraday low. However, the stock is still trading below the upper price band of ₹401 per equity share. According to stock market experts, this is the third straight mainboard IPO, which has been listed at a discount.
However, they said that the rebound should not be taken as a rally as a bullish or bearish trend can be assumed on breakage of either side of today's range. The market experts advised Gopal Snacks share allottees to hold the scrip maintaining strict stop loss at ₹335 apiece level. Some analysts suggested long-term investors take advantage of this discounted listing and accumulate more Gopal Snacks shares at current levels.
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