Multibagger Potential: Deven Choksey Predicts Share India Shares Set for Big Rise

Investment Prediction:

Deven Choksey believes Share India shares are poised for a significant rise in value, potentially reaching ₹2740 to ₹2750 per share within the next year. Despite a recent correction of around 25%, he sees an upward trend ahead for the brokerage stock.

Reasoning Behind the Prediction:

Choksey’s analysis is based on the stock’s recent price movements and technical indicators. Share India shares have been exhibiting an uptrend, marked by higher highs and higher lows. Recently, the stock broke out of a bullish continuation pattern called a ‘Flag & Pole’ on the monthly chart, suggesting further potential for growth.

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Investment Strategy:

Choksey suggests a ‘buy-on-dips’ strategy, advising investors to consider purchasing the stock when its price dips. He highlights a bullish gap on the daily chart and identifies key support levels near the breakout level of the continuation pattern.

Potential Risks:

However, Choksey warns that if the stock’s price falls below certain levels, particularly below ₹990, the bullish pattern could be invalidated, signaling a bearish trend.

Price Targets:

Choksey predicts short-term upside targets for Share India shares, estimating a range of ₹2220 to ₹2230 per share. For the long term, he forecasts the stock to reach ₹2740 to ₹2750 per share.

Investor Caution:

Investors should be aware of potential risks, including the stock’s vulnerability to market fluctuations and the possibility of the bullish pattern being invalidated.

In summary, Choksey’s analysis indicates optimism for Share India shares, but investors should exercise caution and consider the potential risks involved.