This multibagger stock increased from ₹ 88.45 to ₹ 146.20 this year, did you buy

Multibagger Stocks: The year 2021 has seen a large number of multibagger stocks and the Shipping Corporation of India (Shipping Corporation of India or SCI) stock is one of them. The stock of PSU is giving excellent returns to its shareholders throughout the year. In the year-to-date, this multibagger stock has increased from ₹88.45 to ₹146.20. There has been an increase of about 65 per cent in this period, while in the last one year, the SCI share price has risen from Rs 56 to ₹146.20, giving a return of 160 per cent to its shareholders.

what the experts say

Although market experts believe that some sharp jump can still be seen in this multibagger PSU stock. The stock market analyst is of the opinion that SCI shares may go up to ₹200 levels from their current ₹146 per share levels in the next two to three months. It can give about 37 percent return to its shareholders in this period.

Experts believe that the stock is trading in a bullish zone after the breakout of the Bullish Flag pattern on the weekly chart, which indicates an upward trend in the stock for a longer period of time. In the recent week, the price has moved above the previous swing high of 145.50, which is an indication of bullish strength in the stock. Moreover, the price is consolidating above the Ichimoku Cloud and Upper Bollinger Band formation, which is supporting a bullish trend.

Disclaimer: (The information provided here is for informational purposes only. It is important to mention here that investing in the market is subject to market risks. Always consult an expert before investing money as an investor. Anyone from ABPLive.com Also investing money is never advised here.)

Read also:

Multibagger Stock Tips: This penny stock gave 5150% return in one and a half year, investors became rich

Multibagger Stock Tips: This stock has increased by 200 percent in a year, should you bet?