Multibagger stocks for 2022: Share India expert recommends 2 stocks to buy
Premium- Multibagger stocks for 2022: Ravi Singh of Share India has picked two shares that can double its shareholders' money in one year
Multibagger stocks for 2022: Year 2021 was remarkable for stock market investors as a good number of stocks entered the list of multibagger stocks. This could become possible due to the participatory rally witnessed in all segments. Now, when we have ushered into the New Year 2022, stock market investors are looking forward to the value picks that can give stellar return. For such investors, Ravi Singh, Vice President & Head of Research at Share India has picked multibagger stocks for 2022 and the two stocks are CDSL and BSE.
1] CDSL: Ravi Singh of Share India said that CDSL share price is into a cyclical zone making higher high and higher low from a swing low of ₹1425 levels indicating inherent strength in the counter. On daily chart, the stock has managed to close above all the major averages like 20, 50 and 200 DMA supporting the strength in the counter.
"As all the technical setups are in positive hands, we expect CDSL to touch the levels of ₹3200 in 2022," Ravi Singh of Share India said. Currently, CDSL share price is at ₹1537 per share levels on NSE.
2] BSE: On oscillator front, 14 periods RSI of BSE share price is placed in a comfort zone of ₹1700 to ₹1800 levels and is above its 9-period signal line indicating further upside potential in the counter. Even on the Bollinger Band (20, 2), the BSE share price has bounced off its lower band affirming the bullishness in the counter. On derivatives front, the stock has witnessed long accumulation in the last few trading sessions suggesting strong hands accumulating the counter at lower levels.
On his suggestion to stock market investors in regard to BSE shares, Ravi Singh of Share India said, "It is advisable to go long in the counter on any dip towards the target of ₹4000 in 2022."
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Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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