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Ashish Kacholia portfolio: Multibagger stock poised for breakout, say experts

Ashish Kacholia portfolio: Post-breakout, this multibagger stock is expected to become highly bullish and it may go up to  ₹3650 levels in short-term, believe stock market experts. (iStock)Premium
Ashish Kacholia portfolio: Post-breakout, this multibagger stock is expected to become highly bullish and it may go up to 3650 levels in short-term, believe stock market experts. (iStock)

  • Ashish Kacholia portfolio: In year-to-date (YTD) time, this multibagger stock has risen to the tune of near 132 per cent where as 50-stock Nifty-50 index has registered near 24.50 per cent rise in this period

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Ashish Kacholia portfolio: Amid global economy reeling under the heat of Covid-19 pandemic and Omicron virus still looming around, Indian stock market has delivered robust return to its investors. In this one and half year time, a good number of stocks have generated more return than benchmark index return. Mastek shares are one such alpha stock in the list of multibagger stocks in 2021.

In year-to-date (YTD) time, Mastek share price has risen to the tune of near 132 per cent where as 50-stock Nifty-50 index has registered near 24.50 per cent rise in this period. So, this multibagger stock of Ashish Kacholia portfolio is one of the alpha stocks in 2021. However, stock market experts are still bullish on the IT counter and they are expecting sharp upside movement in the counter post-breakout above 3020 per share levels on closing basis. Experts went on to add that Mastek share price looks positive on chart pattern and it may go up to 3670 post-breakout.

Advising investors to buy this Ashish Kacholia portfolio stock for immediate short-term gains; Mudit Goel, Senior Research Analyst at SMC Global Securities said, "Mastek share price is showing consolidation with positive bias on chart pattern. One can buy this multibagger Ashish Kacholia stock at current market price for 10-12 session target of 3250. However, one must maintain a strict stop loss at 2600 per share levels.'

Expecting more rise in the multibagger stock; Ravi Singhal, Vice Chairman at GCL Securities said, "This Ashish Kacholia stock is expected to give fresh breakout at 3020 levels on closing basis. Post-breakout, the multibagger stock is expected to become highly bullish and it may go up to 3650 levels in short-term."

Asked about the reason for being bullish on Mastek shares, Ravi Singhal of GCL Securities said, "Due to outbreak of Covid-19 pandemic and Omicron virus still looming around, global economy is expected to remain under the inflation heat. In such a scenario, IT companies are expected to remain least affected by this inflation and they are expected to give strong quarterly numbers in comparison to other sectoral stocks."

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

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