New Delhi. Multibagger shares (Multibagger stockThe number of members of the club is constantly increasing. Some penny stocks on this stock list (Penny stock) Are also included. By the way, investing in penny stocks is considered risky. However, if the fundamentals of a small company are strong, investing in penny stocks can give good returns.
Sumit Bagadia of Choice Broking told Live Mint about three penny stocks that could give their investors a good return. Let us know which stocks are in Sumit’s list.
Suzlon Energy stocks have given a five-month breakout on the monthly chart and are above the July 2021 high of Rs 9.45. According to Sumit Bagadiya, Suzlon Energy shares could take a long position at around Rs 10 or Rs 8 in the fall. It can see targets above Rs 15 and Rs 20, while its support level is above Rs 6 on which stops can be placed.
Read more: LIC policy – create a fund of Rs 17 lakh by saving only Rs 233, learn the specialty of this policy
The IFCI stock has given a six-month consolidation breakout on the monthly chart and has moved above its June 2021 high of Rs 16.4 with an increase in Accenture volume. Sumit said IFCI shares can take long positions at around Rs 16 or Rs 14 at the time of fall. Targets above Rs 25 and Rs 30 can be achieved. The support level is 11 rupees on which staples can be placed.
Read more: KRCchoksey sees potential in these stocks, could jump up to 40 percent this month
On the monthly chart, the stock has given a breakout from its strong resistance level of Rs 13.50 and is on top of that which indicates strength at the counter. Sumit thinks that it can be taken at around Rs 14 or downside at the level of Rs 13 on IFCI shares. It can see targets above Rs 20 and Rs 25, while its support level is above Rs 10 on which staples can be placed. Sumit says that after the 5G rollout this year, it could go from Rs 28 to Rs 30.
, (Disclaimer: The stocks mentioned here are based on the advice of a brokerage house. If you wish to invest in any of these, first consult a Certified Investment Advisor. News18 Hindi will not be responsible for any of your gains or losses. Done.)
Tags: investment tips, Multibagger stock, The stock market, The capital market