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Multibagger stock: TRF shares have hit a fresh high in early morning deals within few minutes of stock market opening on Monday. TRF share price today opened with an upside gap and hit 10 per cent upper circuit on 5th straight session and climbed to a fresh life-time high of ₹324.35 apiece on NSE. Interestingly, this Tata group stock has been hitting both upper circuit and fresh life-time high together for the last five successive sessions, delivering around 60 per cent return to its shareholders in last 5 sessions.
According to stock market experts, the stock has been hitting upper circuit on a continuous basis and hence no fresh buying can be suggested. However, they maintained that the stock is expected to continue ‘uptrend’ and advised investors to maintain trailing stop loss at ₹300 as it may go up to ₹420 apiece levels in short to medium term.
Speaking on TRF share price outlook, Sumeet Bagadia, Executive Director at Choice Broking said, “The stock has been hitting upper circuit and climbing to new highs on a continuous basis. Hence, no fresh buying is recommended in this Tata group stock. But, the stock still looks positive on chart pattern and those who have this stock in their portfolio are advised to upgrade trailing stop loss at ₹300 as the multibagger stock may touch ₹375 apiece levels in short term.”
Suggesting ‘buy on dips’ strategy for fresh investors, Anuj Gupta, Vice President — Research at IIFL Securities said, “After long time consolidation TRF shares have now breached the consolidation trend and trading above it. It is expecting move up further but recommending to buy on dips around ₹290 to ₹300 levels. Strong support for the stock is placed at ₹260 and strong hurdle for the stock lies at ₹385 levels. Above ₹385 level, it may test ₹410 to ₹420 levels.”
TRF share price history
As mentioned above, TRF shares are one of the multibagger stocks that Dalal Street has delivered in last one year. In fact it is one of the multibagger stocks in 2022 as well. In YTD time, this small-cap Tata stock has surged from around ₹135 to ₹324.35 levels, logging around 135 per cent rise in 2022. In last one year, this multibagger stock has risen from ₹120 to ₹324.35 apiece levels, recording to the tune of 170 per cent in this period.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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(This story has not been checked by Kashmir Bulletin and is auto-generated from other sources)
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