Buy this Multibagger stock for up to 36% profit in 3 months: Sumeet Bagdia

Which chart suggests the pattern with respect to this multibagger stock; Sumeet Bagadiya, Executive Director, Choice Broking said, “On the Monthly chart, this multibagger stock has given a breakout to round bottom formation. made a high at level 35.40 and 68.45 level. But, it showed profit-booking from the higher level and made it at the lower level. At 43.10 level, from there the stock took support from the horizontal line and showed a bounce back movement.”

Samet Bagdia of Choice Broking said that on the weekly chart, Multibagger stock has given a break out of the pennant pattern, which indicates an upside move in the counter. He further added that on a daily chart, the stock has given a breakout falling trend line, which indicates a northward journey in the counter.

“Furthermore, Multibagger share price has also moved above the upper leg of Bollinger Bands, which suggests that a bullish rally will continue in the near term. Further, the stock is trading with a 21 and 50 day moving average. (DMA) Bullish crossover, which shows a positive trend for the time being,” said the Choice Broking expert.

On his advice to positional investors regarding this multibagger stock, Sumit Bagdia of Choice Broking said, “SPIC share price is approx. Target above 50 should be taken as a buying opportunity from 60 68, while support for this Multibagger stock is around . is placed on 45 or 42 levels. So, stop loss based on closing 42 should be kept at lower levels.”

Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.