Radhakishan Damani portfolio: Experts give 'buy' tag after fresh breakout

Radhakishan Damani keeping his shareholding unchanged in any of his portfolio stocks is considered continuation of his strong conviction in regard to that scrip. Mangalam Organics shares are latest example of it. The chemical stock has recently given fresh breakout while rising from around ₹660 to ₹780 per share levels in last one month.

According to stock market experts, this Radhakisham Damani portfolio stock has given fresh breakout at ₹760 and it may go up to ₹860 per share levels in short-term time horizon.

Advising stock market investors to hold this Radhakishan Damani stock further; Mudit Goel, Senior Research Analyst at SMC Global Securities said, "The chemical stock has given fresh breakout at ₹760, which is working as strong support for the counter as well. Those who hold this stock are advised to further hold the counter for ₹860 short-term target.

On whether one can buy this Radhakishan Damani portfolio stock at current levels; Sumeet Bagadia, Executive Director at Choice Broking said, "The stock looks positive on chart pattern and one can initiate momentum buy in the chemical stock at current market price for immediate short-term target of ₹825 per share levels. However, one must maintain stop loss at ₹750 while taking this position." Bagadia said that investors can hold this counter further for the short-term target of ₹850 to ₹860 per share levels.

Mangalam Organics shares have given stellar return in 2021. In year-to-date time, this Radhakishan Damani portfolio stock has surged from around ₹414 to ₹780 apiece levels, logging around 90 per cent rise in 2021. Likewise, in last six months, this chemical stock has gone up from around ₹530 to ₹780 levels, giving near 45 per cent return to its shareholders in this period.

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