Multibagger stocks for 2022: Year 2021 is gone and New Year 2022 has begun. From return perspective for stock market investors, year just gone was a remarkable one as NSE Nifty delivered around 22 per cent return in this calendar year whereas mid-cap delivered near 42 per cent and small-cap index gave around 53 per cent return. A good number of shares entered the list of multibagger stocks that included some multibagger penny stocks as well. Hence, stock investors are looking forward to the same kind of return in 2022 as well.
Sumeet Bagadia, Executive Director at Choice Broking recommends 5 stocks to buy today as they may emerge among the multibagger stocks in 2022:
1] Suzlon Energy: On a monthly chart, the stock has given a five months breakout and sustained above the prior high of ₹9.45 made in July 2021.
“One can initiate a long position in SUZLON around ₹10 or a fall in the price till ₹8 levels, can be used as a buying opportunity for the upside target of ₹15 and ₹20 while the support is placed at around ₹6 levels, which could be considered as a stop loss on a closing basis,” says Sumeet Bagadia.
2] MMTC: On a monthly chart, the stock has been forming a Bullish Flag Pattern, which is a long continuation pattern and indicates a positive strength.
“One can initiate a long position in MMTC around ₹44 or a fall in the price till ₹40, can be used as a buying opportunity for the upside target of ₹60 to 80, while the support is placed at around ₹35 levels, which could be considered as a stop loss on a closing basis,” suggests Summet Bagadia of Choice Broking.
3] IFCI: On a monthly scale, the stock has given six months consolidation breakout and moved above the prior high of ₹16.4 levels on June 2021 along with the Accenture volume spurt.
“One can initiate a long position in IFCI around ₹16 or a fall in the price till ₹14, can be used as a buying opportunity for the upside target of ₹25 to ₹30 while the support is placed at around ₹11 levels, which could be considered as a stop loss on a closing basis,” Choice Broking experts said.
4] Subex: On a monthly chart, stock has given a breakout of the accumulation phase and made a high at ₹74.40 levels but showed profit booking from a higher level and made a low of ₹41.15.
“one can initiate a long position in SUBEX at CMP of ₹54 or a fall in the price till 50 levels can be used as a buying opportunity for the upside target of ₹70 to ₹80, while the support is placed at around ₹40 levels, which could be considered as a stop loss on a closing basis,” said Sumeet Bagadia. He said that the stock may hit triple digit this year as business outlook for IT companies are quite good in post-Covid scenario.
5] Vodafone Idea: On a monthly chart, the stock has given breakout of its strong resistance level of 13.50 levels and sustained above the same which indicates strength in the counter. Furthermore, the stock has been trading above 100 & 50 Days Exponential Moving Averages (DEMA), which shows a positive trend for the time being.
Asked about his suggestion to stock market investors, Sumeet Bagadia said, “One can initiate a long position in Vodafone Idea at CMP of ₹14 or a fall in the price till ₹13 levels can be used as a buying opportunity for the upside target of ₹20 to ₹25, while the support is placed at around ₹10 levels, which could be considered as a stop loss on a closing basis.” He said that the telecom stock may go up to ₹28 to ₹30 levels, as Made in India 5G roll out in 2022 is expected to give some support rally in telecom stocks.
Disclaimer: The views and recommendations made above are those of individual analysts or broker companies, and not of Mint.
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