Multibagger Energy Stock Rises Over 24% This Week. Do You Own?

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Multibagger stock: Suzlon Energy shares have been appreciating since beginning of new financial year 2022-23. In 5 trade session in FY23, this multibagger stock has surged from 9.70 to 12.15 per share, logging more than 24 per cent rise this week. According to stock market experts, this multibagger energy stock is on cusp of giving double bottom breakout above 13.10 apiece levels.

Speaking on Suzlon Energy shares; Sumeet Bagadia, Executive Director at Choice Broking said, “The multibagger energy stock has strong support at 9 and it looks positive on chart pattern. It is on cusp of giving double bottom breakout above 13.10 per share levels. Once the breakout is given on closing basis, it may go up to 15 in near term. If the energy stock sustains above 15, it may go up to 20 in medium term.”

Sumeet Bagadia of Choice Broking went on to add that in July 2021, this multibagger energy stock had given breakout after sustaining above 9.45 per share levels, forming ‘Upper Bollinger Band’ that signals trend reversal in the stock. He said that since then the stock has been in ‘uptrend’ and any dip should be seen as buying opportunity in the stock.

Suzlon Energy share price history

Suzlon Energy shares are one of the multibagger stocks in 2021 as it has surged from 5 to 5.00 to 12.15 apiece levels, logging near 145 per cent rise in this period. In last one month, multibagger penny stock has risen near 25 per cent whereas in last 6 months, it has delivered around 65 per cent return to its shareholders. In YTD time, it has given around 13.5 per cent return to its shareholders.

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

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