Multibagger stock: Ventura Securities sees huge upside in this engineering share
1 min read . Updated: 22 Jun 2022, 12:00 PM IST
Premium- Multibagger stock: Ventura Securities believes that Pitti Engineering share price may go up to ₹550 per share levels in long term
Multibagger stock: Pitti Engineering shares have been giving strong return to its shareholders for years. It is one of the multibagger stocks in 2021 and it has been giving strong upside in 2022 as well. However, the stock has gone through profit-taking phase in last few sessions, which Ventura Securities sees as an opportunity for positional investors. They believe that Pitti Engineering share price may go up to ₹550 in long term from current price of ₹281 apiece levels on NSE. So, if we go by Ventura Securities research report, Pitti Engineering is expected to emerge as one of the multibagger stocks for 2022.
On triggers that may fuel this multibagger stock price rally, Ventura Securities research report says, "Pitti Engineering share price has made a Consecutive Swing high’s of ₹214 (Aug 21), ₹299 (Jan 2022) & ₹344 (April 22) supported by volumes. Super trend turned positive since November 2020 till date."
The brokerage re port went on to add that the multibagger stock is in firm 'uptrend' for more than a year and said, "The stock always traded above averages and never breached the 52 week average." Recently the stock made a new high of 351 above all previous highs. The Vortex, PVT & Volume Oscillator indicator suggest a possible firm uptrend.
On suggestion to positional investors, Ventura Securities research report said, "If the stock price corrects, then buying levels would be ₹270 to ₹279. One can enter at these levels maintaining stop loss at ₹250 apiece levels."
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
