Ravi Singhal of GCL Securities has a buy suggestion

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Multibagger Penny Stocks for 2022: Investing in penny stocks is highly risky because a short trigger causes high volatility in the stock. However, 2021 has been a remarkable year for various penny stocks with good fundamentals as a good number of penny stocks entered the list of multibagger penny stocks in 2021. Now, as the new year of 2022 enters, retail investors are busy finding potential multibaggers. Stocks for 2022. For such stock market investors, Ravi Singhal of GCL Securities recommends buying Pill Italica Lifestyle or Pillita Shares when the market opens on Monday.

Speaking on Multibagger Penny Stocks for 2022; Ravi Singhal, Vice Chairman, GCL Securities said, “Pilita share price has been going through a sell-off phase since April 2021, but has shown a rebound in the last few trading sessions. It is a quality stock as the fundamentals of the company are very strong. The small-cap company has a PE ratio of 49, which is understandable due to its small liquidity. But, it may take a hit. from 19 20 level in the short term.”

GCL’s Ravi Singhal further says penny stock has given a fresh breakout Based on closing 10.40 and it is currently on 11.10 level on NSE. He said the shares of Pilita have strong support. A sharp jump can be expected from the 10.40 level and over the counter from here as Pilita share price is still at a discount of about 45 per cent from its 52-week high. 19.20 per share level on NSE.”

“On the chart pattern, Pilita share price is poised for a sharp rally and once it breaks its 52-week high on a close basis, we can expect an upside move. 35-38 levels in the next 6 months,” Ravi Singhal said.

When asked about Pillita share price target for 2022, Ravi Singhal of GCL Securities said, “One can buy small-cap counter at current levels while maintaining stop loss. Keep accumulating on 5 more dips. Stock ready to go up from 19 20 In the short run, from 35 38 In the medium term while it could go up 50 per level in the long term.”

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

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