This multibagger stock gave 100% return in 2021, brokerage firm gave advice to buy

Multibagger stock: In 2021, a large number of stocks have given multibagger returns to their shareholders. ABB Power Products and Systems is one of those multibagger stocks in 2021. This stock has jumped from about ₹ 1300 to ₹ 2580 per share level in the year-to-date i.e. it has given almost 100 percent return in 2021. In the last one year, this multibagger stock has given returns of more than 150 per cent. HDFC Securities has given the stock ‘buy on dips’ tag with the expectation of a rise of around 15 per cent in the short term.

Highlighting the bullish ‘Uptrend’ in the technical chart of Multibagger stock, HDFC Securities says, “ABB Power Products & Systems is in an intermediate uptrend as it has been forming higher tops and higher bottoms for the past several months. In a range After consolidating in the last week between ₹2260 to ₹2400 levels, the stock broke above this range on Monday at Upper Average Volume.”

HDFC Securities’ technical report said, “Intermediate technical setup is also looking positive, we believe the stock has potential to move higher in the coming weeks and hence give buy advice.”

HDFC Securities recommends investors to buy this stock in the range of ₹2380 to ₹2462.85 per share levels for a target of ₹2656 and ₹2850, with an expectation of growth of around 15 percent in one to three months’ time. The brokerage has also recommended strict stop loss at ₹2270 while taking this position over the counter.

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