LT: Giving 66% returns, How to identify Multibagger stocks?

investment multibagger stocks stock market stocks Sep 14, 2023
LT: Giving 66% returns, How to identify Multibagger stocks?

We published about LT in August 2022 and predicted possibility of Multibagger returns in coming 2-3 years. Check out the research we had published on 24th August itself – This stock has managed to hold its gain and gave more than 66% returns in one year of span and made a life time high of 3009 levels.

Larsen & Toubro (LT) Weekly Chart as on 24th August 2022: Larsen & Toubro (LT) Daily Chart 24th August 2022:

Multibagger stock recommendation: Larsen & Turbo

Buy Price – Buy at CMP 1880 and more on dips to 1692

Time Horizon –2 to 3 years

Investment – 5% of capital

Target price – ??

Stop loss- ??

Anticipated as on 24TH August 2022 Elliott Wave Theory:

On the weekly chart of Larsen & Turbo (Figure 1), prices are moving in an impulsive fashion. Prices have broken a channel resistance and continued to move higher. The long consolidation from 2008-2020 was wave 4 unfolding in the form of bow tie Diametric pattern. After completing primary wave 4 near the lows of 660 level, primary wave 5 is moving on the upside. 40 Exponential Moving Average (EMA) is providing good support to the prices at regular intervals. The support as per the average is placed near 1700 levels. Any dips towards the mentioned level can be used as buying opportunity.

Time cycle of 89 days: The 89 days Cycle is working extremely well on the stock and as you can see on the daily chart, many reversals have been formed on this cycle. The next cycle low is likely to due on 19th September 2022.

Happened as on 14th September 2023Happened– The stock has been moving in sync with our expectation and currently quoting near 2931 levels. It has touched its 52-week high near 3009 levels in the month of September 2023. The up move has been strong and we expect prices to achieve its target of...levels in coming months. The stock is giving a return in excess of 66% average return in one year of span.

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