Update on previous Multibagger picks
PhilipCarb : Posted on 6th Sep 2020 at Price 124. click to read
EicherMotors : posted on 14 Nov 2020 at Price 2514. click to read
AGARIND : posted on 13 Feb 2021 at price 121. click below to read
One more stock triggered on our system is #SIYSIL and likely to rise by 5X in coming years. let us discuss the setup in detail
Have a look on below chart
Full price can be understook with above one picture. however let us discuss in detail.
No 1 : History : Stock broke its resistance of 110 on 12 Jan 2014 and made a high of 790 on 12 Jan 2018. Appreciated by 8 times in 4 years. Is this not amazing?
No 2 : Restest of support : in technical language support is an area where stock is bond to react. if stock bonces from this area with volumes and starts making Higher High, Higher lows. expect the stock to start its journey back to upwards, that's what happening on chart.
No 3 : Volume: Did you see retest of base from where stock appreciated by 700% previously and that too without getting out smart money. without getting out money means volumes missing during come back of this stock.
No 4 : Promoters holding is above 59% as is constant for last 2 years (Good)
No 5 : FII have increased their holding from 032% to 0.74. Which is excellent
Above all factors makes this stock attractive to me and I and my clients will be having positions in this.
Target and stop loss. I apologize here as, I don`t believe in targets and stop losses. I ride strength and exit weakness. I would stick to this stock until any weakness seen. However, initial stop has been mentioned in above placed chart.
Note : quite possible that stock may retrace back to support before it could fly higher or may not.
I can sense stock might turn multibagger with 5x targets of Rs 600-800 in coming years.
I hope you like this Stock Idea and would be grateful if shared with your near and dears.
kind regards,
Rounak
www.ridemultibagger.com
mail us : support@ridemultibagger.com
disclaimer : above analysis is my personal view, not a buy or sell recommendations.
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