Multibagger Stock 2021: The Indian stock market has given great returns to its investors after the first wave, as several stocks entered the list of multibagger stocks of the year. Real estate stock Sobha is also one of the outperforming stocks and brokerage firm HDFC Securities sees higher gains as it expects Sobha’s share price to go up. 970 per share level in 3 month time frame.
HDFC Securities says that Shobha share price is expected to move further, “Weekly time-frame chart of Sobha share indicates a permanent uptrend over the past several months. Shobha share price is in continuous up and down positive sequence. has increased accordingly on the weekly chart 756 can be considered a new high level of the sequence.”
“The up-sloping trend line and the cluster support of the weekly 10 and 20 period EMAs remain intact and one can expect an upward move from here. The weekly 14 period RSI is placed at 60 and here is the turn up. This could mean further consolidation of upside momentum for the stock price going forward,” the brokerage report says.
In its suggestion to the stock market investors regarding this multibagger stock, HDFC Securities says that one can buy Sobha shares at the current market price for a target period of 3 months. Maintaining Stop Loss at 970 790 levels. The brokerage further says that deposits should be around 815 levels if the real estate stock moves down to these levels.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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