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Home / Markets / Ipo /  HDFC Securities sees 15% rise in this multibagger stock in short term
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Multibagger stock: In 2021, a good number of stocks have delivered multibagger return to its shareholders. ABB Power Products and Systems is one of those multibagger stocks in 2021. This share has jumped from around 1300 to 2580 per share levels in year-to-date time, delivering around 100 per cent return in 2021. In last one year, this multibagger stock has delivered more than 150 per cent return and despite such stellar return in last one year, HDFC Securities has given 'buy on dips' tag to this stock expecting around 15 per cent rise in short term.

Highlighting bullish 'uptrend' in the technical chart of the multibagger stock, HDFC Securities says, "ABB Power Products and Systems is in an intermediate uptrend as it has been making higher tops and higher bottoms for the last several months. After consolidating in a range between the 2260 to 2400 levels in the previous week, the stock has broken out of this range on Monday on the back of above average volumes."

Giving day trading guide in regard to this multibagger stock, brokerage report added, "Technical indicators are giving positive signals as the stock is trading above the 20 day and 50 day SMA. Weekly momentum indicators like the 14-week RSI have bounced back and are in rising mode now. This augurs well for the uptrend to continue."

Giving 'day trading stock' tag to this multibagger stock, HDFC Securities technical report says, "With the intermediate technical setup too looking positive, we believe the stock has the potential to move higher in the coming weeks and therefore recommend a buy."

HDFC Securities suggested investors to buy this stock in the range of 2380 to 2462.85 per share levels for the target of 2656 and 2850, expecting around 15 per cent rise in one to three month time. The brokerage recommended strict stop loss at 2270 while taking this position in the counter.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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