Multibagger Stock: Within minutes of the stock market opening on Monday, TRF shares touched new highs in morning deals. TRF share price today opened with an upside margin and breached the upper circuit of 10 percent for the 5th consecutive session and hit a new life-time high. 324.35 each on NSE. Interestingly, this Tata group stock has been hitting both upper circuit and fresh life-time highs simultaneously for the last five consecutive sessions, giving nearly 60 per cent returns to its shareholders in the last 5 sessions.
According to Share Market Experts say that the stock is hitting the upper circuit continuously and hence no fresh buy can be suggested. However, he added that the stock is expected to continue the ‘uptrend’ and advised investors to maintain the trailing stop loss. 300 as it can go up 420 each level in the short to medium term.
Speaking on TRF share price outlook, Sumeet Bagadiya, Executive Director, Choice Broking said, “The stock is hitting the upper circuit and climbing to new highs on a consistent basis. Hence, any fresh buy recommendation in this Tata group stock. But, the stock still looks positive on the chart pattern and those who have this stock in their portfolio are advised to upgrade the trailing stop loss Multibagger stock may touch as 300 375 each level in the short term.”
Suggesting a ‘Dips on Dips’ strategy for new investors, Anuj Gupta, Vice President – Research, IIFL Securities said, “After a long period of consolidation, TRF shares have now broken the consolidation trend and traded above it. Doing it expecting to move up but recommending buy on dips from 290 300 levels. Placed on strong support for the stock 260 more is a strong hurdle for the stock 385 levels. above 385 level, it can test from 410 420 levels.”
TRF Share Price History
As mentioned above, TRF shares are one of the multibagger stocks that Dalal Street has delivered over the past year. In fact it is one of the multibagger stocks even in 2022. In YTD time, this small-cap Tata stock has risen from approx. from 135 324.35 level, an increase of about 135 percent in 2022. In the past one year, it has grown from multibagger stock 120 to 324.35 each level, recording 170 percent over the period.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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