The shares of SAIL, a steel company included in the portfolio of Rakesh Jhunjhunwala, have seen a good increase. In the last one year, this stock has given double returns to its investors.
This stock has given multibagger returns
Public sector steel company SAIL is one of the large cap stocks. In the last one year, this stock has grown more than 100 percent. In the pre-covid level i.e. January 2-February, 2020, this stock was around Rs 54 but is now trading at Rs 112.50. That is, an increase of up to 125 percent has been registered in it. Despite this uptrend, the stock market experts are still bullish on this stock and they see earning opportunities in it. They believe that a medium term target of up to Rs 150 can be kept in this stock.
Shopping can be done between Rs 120 to 125
Sumit Bagadia, Executive Director, Choice Broking says that the chart pattern of SAIL is looking very promising. Looking at the chart, it looks like the stock has exited the consolidation and correction phase. Now this stock seems to be going upwards. Keeping in mind the short term in this stock, buying can be done between Rs 120 to 125. In this, a level of Rs 103 can be maintained for stop loss.
Ravi Singh, Vice President and Research Head, ShareIndia, says that this stock is currently trading at Rs 112 on NSE. This stock has given multibagger returns from its pre covid. Looking at the chart, it seems that whenever the stock enters the consolidation mode, it shows strong bullish momentum in subsequent breakouts. Some similar signs have been seen in this stock last week. Signs of bullishness are clearly visible in this stock.
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You can get up to 34 percent return in a year
Ravi Singh says that entry can be made in this stock at the current level. For this, you can put a stop loss around Rs 95. A level of Rs 140 -150 can be seen in this stock. Ravi Singh also says that in case of any correction near the level of Rs 100, buy more with a stop loss of Rs 95. For a period of one year, this stock can give 34 percent return.
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