Multibagger Tata stock hits life-time high on sixth day in a row. Do you own?

Market


Indian Hotels shares are one of the multibagger stocks that belongs to Tata group of companies. The stock has been in uptrend and climbing to a life-time high on a regular basis. This hospitality stock has ascended to record high on successive six sessions. Indian Hotels share price today opened upside and hit new life-time high of 337.20 apiece on NSE in early morning deals. However, profit-booking triggered soon and the stock came down from its yesterday’s close of 333.90 and hit intraday low of 329.85 apiece levels.

Indian Hotels share price history

This multibagger Tata stock has been in uptrend after ushering in 2022. In year-to-date (YTD) time, Indian Hotels share price has appreciated from around 184 to 337.20 apiece levels, logging to the tune of 80 per cent rise in 2022. It is one of the multibagger stocks that Indian stock market has produced in last one year as it has ascended from near 150 to 337.20 levels, delivering around 120 per cent return to its shareholders. The story doesn’t end here only. This multibagger stock has surged from 102 to 337.20 levels, giving 225 per cent return to its positional investors.

According to stock market experts, the stock is in continuous uptrend and it has strong support at 310 apiece levels. They advised positional stock market investors to maintain ‘buy on dips’ strategy till it is above 310 as the stock may go up to 360 per share levels in short term.

Indian Hotels share price outlook

Speaking on Indian Hotels share price outlook, Sumeet Bagadia, Executive Director at Choice Broking said, “Indian Hotels share price is in continuous uptrend. It has formed higher high higher low pattern on chart that means it may continue to give upside swing in short term. The stock is facing minor hurdle at 337 and once it breaches this levels it may give strong upside moves in short term.”

Echoing with Sumeet Bagadia’s view, Anuj Gupta, Vice President — Research at IIFL Securities said, “This Tata group stock may go up to 350 to rs 360 apiece elvels once it breaches the immediate hurdle placed at 335 to 340 levels. One can maintain buy on dips strategy till the stock is above 300 maintaining stop loss at 290 apiece levels.”

 

On suggestion to Indian Hotels shareholders, Sumeet Bagadia advised them to hold the stock with trailing stop loss at 310 for immediate target of 350 per share levels.

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

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