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New Delhi. Multibagger Shares (Multibagger stocksThe number of members of the club is increasing continuously. Some penny stocks in this list of stocks (Penny Stocks) are also included. By the way, investing in penny stocks is considered risky. However, if the fundamentals of a small company are strong, then investing in penny stocks can give good returns.
Sumeet Bagadia of Choice Broking has told Live Mint three such penny stocks which can give good returns to their investors. Let us know which stocks are included in Sumit’s list.
Suzlon Energy
Suzlon Energy stock has given a five-month breakout on the Monthly charts and remains above the July 2021 high of Rs 9.45. According to Sumeet Bagadiya, a long position can be taken in the shares of Suzlon Energy around Rs 10 or at the level of Rs 8 on decline. It can see targets above Rs 15 and Rs 20, while its support level is at Rs 6 on which stoploss can be placed.
IFCI
IFCI stock has given a six-month consolidation breakout on the Monthly chart and Accenture has moved above its June 2021 high of Rs 16.4 with a rise in volumes. Sumit says that long positions can be taken in IFCI shares around Rs 16 or at the level of Rs 14 on fall. Targets above Rs 25 and Rs 30 can be achieved. The support level is at Rs 11 on which stoploss can be placed.
Also read: KRChoksey sees potential in these stocks, can take up to 40 percent jump this month
Vodafone Idea
On the Monthly chart, the stock has given a breakout from its strong resistance level of Rs.13.50 and remains above the same which indicates strength in the counter. Sumit is of the opinion that it can be taken at the level of Rs 13 in IFCI shares around Rs 14 or on the downside. It can see targets above Rs 20 and Rs 25, while its support level is at Rs 10 on which stoploss can be placed. Sumeet said that after the 5G rollout this year, it is likely to go up to Rs 28 to 30.
, (Disclaimer: The stocks mentioned here are based on the advice of brokerage houses. If you want to invest in any of these, then first consult a Certified Investment Advisor. News18 Hindi will be responsible for any profit or loss you may have. Will not done.)
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Tags: Investment tips, Multibagger stock, Share market, stock market
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