Saurabh Mukherjea's chemical stock hits 52-week high. Do you own?
2 min read 05 Sep 2022, 09:08 AM ISTSaurabh Mukherjea's portfolio stock is in uptrend and it may go up to ₹2100 apiece levels, believe experts
PremiumSaurabh Mukherjea portfolio stock GMM Pfaudler has hit 52-week high of ₹1,846.65 on NSE. One of the Saurabh Mukherjea's little champ stocks, GMM Pfaudler shares have been in uptrend since 23rd August 2022 and the stock finally hit 52-week high on Friday last week. On Friday session, this chemical stock opened upside and went on to hit intraday high of ₹1,846.65 on NSE, logging near 11.50 per cent rise from its Thursday close. However, the Saurabh Mukherjea stock finally settled at ₹1827.55 apiece, around 10.50 per cent above its Thursday close.
According to stock market experts, the Saurabh Mukherjea's portfolio stock is forming 'Higher High, Higher Low' on chart pattern that indicates further rise in GMM Pfaudler share price. They said that the chemical stock may go up to ₹2100 apiece levels from current levels and advised 'buy on dips' strategy in regard to this chemical stock.
Speaking on GMM Pfaudler share price outlook, Sumeet Bagadia, Executive Director at Choice Broking said, "GMM Pfaudler shares are in uptrend and teh trend is expected to continue further as it if forming Higher High Higher Low pattern on chart that means the stock may further rise by up to 10 per cent in bulls case and around 5 per cent even there is a bear case at secondary markets. The stock has strong support at ₹1750 apiece levels and one should maintain stop loss at this level and keep on accumulating on any major dip from current levels."
"GMM Pfaudler is at 2-year high levels. On monthly chart, it has recently given trendline breakout after consolidation. It has strong support at ₹1700 levels whereas immediate support for the stock is placed at around ₹1750 to ₹1760 price band. Positional investors are advised to buy this stock at current levels and keep on accumulating till the stock is above ₹1770 levels. Immediate target for the stock is ₹1950 whereas it may go up to ₹2100 after breaching this ₹1950 hurdle."
GMM Pfaudler shares are one of the three Saurabh Mukherjea's Little Champ stocks. Saurabh Mukherjea is Founder & Chief Investment Officer at Marcellus Investment Managers. He believes that the chemical stock can become a global leader in glass lined and ceramic reactors after acquisition of Pfaudler.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
