Dolly Khanna portfolio: Multibagger stock falls 22% in one month. Should you buy?

Dolly Khanna portfolio: In recent stock market selloff caused by Russia-Ukraine conflict, a good number of stocks have received heavy beating due to panic selling. Nitin Spinners shares are one of them. In last one month, Nitin Spinners share price has tumbled from around ₹320 apiece to ₹250 levels levels, falling near 22 per cent in this period. As the Dolly Khanna stock is one of the multibagger stocks in 2021, retail investors might think of buying the stock at discounted levels.

According to stock market experts, this multibagger stock is having immediate support at ₹225 levels and has major support at ₹180 apiece levels. They advised investors to add this stock at this stock in their portfolio for short term target of ₹280 apiece levels.

Speaking on Dolly Khanna portfolio stock; Santosh Meena, Head of Research at Swastika Investmart Ltd said, "Nitin Spinner was moving in an up-sloping channel formation but it witnessed breakdown of this channel for a short term reversal of prevailing uptrend where 200-DMA around 225 is a critical support level. If it manages to hold 225 level then we can expect a bounce back in the multibagger scrip."

Advising high risk traders to add this stock in their portfolio; Anuj Gupta, Vice President at IIFL Securities said, "One can accumulate this Dolly Khanna share around ₹225 to ₹230 levels for short term target of ₹280 apiece levels. However, one must maintain stop loss at ₹204 while taking position in this stock."

Nitin Spinners share price history

In last one year, this multibagger stock has surged from ₹88.45 to ₹250 apiece levels, logging around 180 per cent rise in this period.

Dolly Khanna share holding in Nitin Spinners

According to shareholding pattern for October to December 2021 quarter, Dolly Khanna holds 9,64,373 Nitin Spinners shares or 1.72 per cent stake in the company.

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