Multibagger Stock for 2022: Amidst the falling Indian stock market, retail investors are looking for opportunities to find value picks that can deliver good returns on small investments. For such investors, there is good news as stock market experts have recommended buying shares of Vikas Ecotech, a penny stock which they expect to emerge as a potential multibagger penny stock for 2022. He said penny stock is nearing a breakout and may go up 11.60 each level in the short term.
Speaking on the share price outlook of Vikas Ecotech; Anuj Gupta, Vice President, IIFL Securities said, “Technically, the stock is showing a bullish trend. It has broken the consolidation zone and is showing extreme bullishness on the chart pattern. Currently, it is trading above the consolidation zone. Has been and can go up. 10 and then 12 in the short term.”
predicting fresh breakouts in penny stocks; Manoj Dalmiya, Founder and Director, Proficient Equities Ltd. said, “Vikas Ecotech is nearing a breakout and is forming a triangle pattern. We can expect a good move thereafter. 7.30 level. It may take close support According to 4.40 Fibonacci levels. target can be 11.60 Hence, one can buy this penny stock by keeping the stop loss below the current levels 4.40 level and hold as stock is one of the potential multibagger penny stocks for 2022 in Indian stock market.
More about Vikas Ecotech shares
Growth is the market cap of Ecotech 561 crores. This is a 52-week high. Is 6.90 per share while its 52-week low is . Is 1.04 each level on NSE. The current trading volume of Vikas Ecotech’s shares is 18,64,515, which is significantly lower than its 20-day average volume of 1,15,63,267. Therefore, traders can avoid a breakout if the trading volume is not enough. Penny stock closing high on NSE 27.58, which he made on 5 January 2018.
Vikas Ecotech shares closed on price On Friday at the level of 4.90 each. It has lost nearly 11 per cent in the past one week, hitting the lower circuit in the last two sessions.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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