Dolly Khanna bullish on this multibagger stock. Should you buy now?

Market


Dolly Khanna is known for adding lesser stocks in her portfolio that goes on to beat benchmark indices by huge margin. Nitin Spinners share one such Dolly Khanna portfolio stock. This Dolly Khanna share is one of the multibagger stocks in 2021 in India. The stock has delivered around 290 per cent return to its shareholders in year-to-date time whereas in last one year, this multibagger stock has surged near 500 per cent. Dolly Khanna also seems to be bullish on the counter as the Chennai-based ace investor raised her stake in the company in September 2021 quarter.

As per Nitin Spinners shareholding pattern for July to September 2021 quarter, Dolly Khanna holds 9,23,373 shares or 1.64 per cent stake in the company whereas the ace investor’s shareholding in the company in June 2021 quarter stood at 6,95,095 shares, which was 1.24 per cent of the total issued paid up capital of the company. This means Dolly Khanna is bullish on the counter as she bought 0.40 per cent additional stake in the company in Q2FY21.

Like Dolly Khanna, stock market experts are also bullish on this multibagger stock. They are of the opinion that stock has recently given breakout and it may go up to 350 per share levels in short term.

Expecting Bull Run to continue in this Dolly Khanna share price; Sumeet Bagadia, Executive Director at Choice Broking said, “Nitin Spinners shares have recently given fresh breakout and it may soon hit 300 to 320 levels. One can buy and hold this stock at current levels for the immediate short-term target of 300 to 320 apiece levels maintaining stop loss at 260.”

Echoing with Sumeet Bagadia’s views; Santosh Meena, Head of Research at Swastika Investmart Ltd said, “Nitin Spinner is continuing its strong bullish momentum after witnessing the breakout of bullish flag formation. However, 295 to 300 is a critical supply zone and it needs to cross this area before the further rally towards 350 level. On the downside, 240 will act as strong support at any profit booking and one should continue maintaining buy on dips strategy till it is above this strong support zone.”

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

Subscribe to Mint Newsletters

* Enter a valid email

* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint.
Download
our App Now!!



Source link

0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments