Buy Multibagger BSE Stock For 20% Upside In 3 Months: HDFC Securities

Headline indices declined by over 0.8% with Nifty holding levels of just 17,100. Broader markets also fell by a similar degree. Meanwhile, brokerage firm HDFC Securities as part of its positional calls has put its bet on the monopoly stock.

"Positional calls are based on technical analysis of the stock by our research experts. The stock ideas here are based on the market movements by examining historical data, like price and volume. Our research experts analyze data & charts for trading signals and price patterns for to identify investment opportunities", says the brokerage house.

Buy BSE for a target of Rs. 1080 i.e. upside of 20% for 3 months:

The brokerage based on technicals has recommended a buy on the multibagger BSE and asked to maintain a stop loss of Rs. 827. Last the stock in today's (April 29, 2022) settled at a price of Rs. 910.35 per share.

Technical observations

- The weekly timeframe chart of this stock exchange stock BSE Ltd indicates an
intermediate uptrend over the last many month.

-The stock price has moved up as per the positive sequence like higher tops and bottoms
over the period of time.

-After the formation of new higher bottom at Rs 812 in this week, the stock price has moved
up swiftly and is now placed at the upside breakout of down sloping trend line at Rs 915
levels. This is positive indication.

-Volume has started to rise with upmove in the stock price and weekly 14 period RSI shows
positive indication.

-The overall chart pattern of BSE Ltd indicates long trading opportunity. One may look to
create positional buy as per the levels mentioned above.

 

Disclaimer:

The above stock pick is taken from the HDFC Securities report which lists it as its MTF Pick. Readers should not construe the report as an investment advice.

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