taking cue from Warren Buffett; Bharat Gala, President - Technical Research at Ventura Securities Ltd has recommended two multibagger stocks to buy today as the market has been falling for last two sessions. The technical expert of Venture Securities has recommended positional investors to take advantage of this falling market and buy shares of Rana Sugars and HBL Power Systems expecting strong upside in both counters.
Speaking on Rana Sugars shares; Bharat Gala of Ventura Securities said, "The stock price started its up move from ₹2.60 (May 2020) to ₹38.30 (July 2021), making series of higher bottoms & higher tops. From November to July 2021 the stock traded in range of ₹22 to ₹38 Price Zone. Recently the stock gave Range breakouts & made a high of ₹43.70 accompanied by supportive volumes. The stock continuously traded above average and Super Trend was in Positive Mode. The possible targets are ₹75. If the stock price corrects downwards the buy levels are ₹38 to ₹36 and ₹34 to ₹32." However, he strictly advised investors to maintain stop loss at ₹30 levels.
Recommending buy on HBL Power Systems shares, Ventura Securities expert said, "The stock price started its up move from ₹15 (Sept 2020) to ₹83.60 (Feb 2022), making series of higher bottoms & consolidation patterns. During the move the stock continuously traded above averages & Super trend was in Positive mode. From Nov 21 the Up Trend was supported by above average volumes. Recently the stock gave Range breakouts & made a high of 74.7 accompanied by highest weekly volumes since 2020. The possible targets are ₹100 and ₹135. If the stock price corrects downwards the buy levels are ₹71 to ₹68, ₹66 and ₹64 to ₹62." He advised investors to maintain strict stop loss at ₹57 while taking position in the multibagger stock.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
