12 Mar , 2022 By : Kanchan Joshi
Multibagger stock: Easy Trip share price has been trading sideways with upside bias for last 6 months. Last week, this multibagger stock has given sharp upside move and registered around 6 per cent rise in this period. As per stock market experts, this stock may give breakout at Rs310 to Rs315 levels. They went on to add that the stock may give sharp upside move after giving breakout at these levels on closing basis.
According to stock market experts, Easy Trip share price is on verge of breakout and after closing above this breakout levels, this multibagger stock may go up to Rs460 apiece levels in next 3 months. They said that stock market investors are looking to those stocks that may remain insulated from commodity price rise and global inflation concerns. For such positional investors, tours and travel stocks may emerge as an alternative and hence Easy Trip shares may attract bulls in upcoming sessions. They advised fresh investors to add this stock in their portfolio after the breakout for Rs460 apiece target.
Speaking on the reason for being bullish on this multibagger stock; Ravi Singhal, Vice Chairman at GCL Securities said, "In the wake of global inflation concern and rising commodity prices, positional investors are looking at such stocks that may remain least affected or almost insulated from these triggers. For such investors, tour and travel stocks are one of the most appropriate options that may fuel Easy Trip share price in future. However, for investors playing safe, they are advised to wait for breakout in the stock, which is expected at around Rs310 to Rs315 on closing basis. One should buy this stock above Rs315 levels for 3 months target of Rs460." However, Ravi Singhal of GCL advised investors to maintain strict stop loss at Rs270 while taking position in the stock post-breakout.
Unveiling strategy for high risk traders; Mudit Goel, Senior Research Analyst at SMC Global Securities said, "High risk traders can buy this multibagger stock for immediate short term target of Rs310 maintaining stop loss at Rs275. If the stock breaks its immediate hurdle placed at Rs310 to Rs315, then it may soon go up to Rs340 in short term."
Easy Trip shares are one of the multibagger stocks in 2021 as it surged from around Rs104 to Rs286.50 apiece levels. logging around 175 per cent rise in this period.
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