New Delhi: Many Railway and power sector stocks have given strong returns to their investors in the last one year. However, the shares recorded a certain amount of decline during the recent ‘market correction’. Two stocks – Rail Vikas Nigam Limited (RVNL) and Tata Power have given bumper returns to the shareholders. However, these two counters also witnessed a drop.
RVNL share price target
RVNL shares have recorded a continuous decline in the recent months. The railway stock is tagged as a multibagger and is very popular amongst the investors. Recently, the scrip had increased to the level of Rs 480, but from there it is continuously falling. In the last one year, this stock has given returns of more than 130 per cent. On December 27, 2024 RVNL share price closed at Rs 425.25.
Commenting on the RVNL share price, Sharad Mishra, CIO of sharadmishra.com, said that a good breakout was seen in RVNL shares. Its financial results were also good. However, despite this the stock did not move. He said that this happened due to market weakness. The strike base of the stock is around Rs 408. Those who have RVNL shares should maintain a Stop Loss at Rs 408. If it goes below this, you can sell the position. He said that a big move in the stock can come if it reaches Rs 463. If the stock sustains its movement at this levels, it can go up to Rs 550. He advised the investors to buy the stock when there is a big upside move in the stocks.
Tata Power share price target
Giving his opinion on Tata Power stock, the market expert said that a broad top pattern is being formed inside Tata Power and interested investors can purchase the stock in the range of Rs 397-Rs 410. Stop loss can positioned at Rs 370, he added.
Mishra advised the Tata Power shareholders to sell their positions if it closes below Rs 370. This zone has been tested many times. “If you see, this zone test has been done several times after around April 2024. Next its elid web takes it towards Rs 457 to Rs 460. If you hold some position, you can see targets of Rs 490 to 500,” the expert added.
(Disclaimer: This article is only meant to provide information. News9 does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
Despite a recent market correction, RVNL and Tata Power stocks, previously strong performers, have shown declines. An expert analysis suggests potential upside for RVNL, with a buy recommendation above Rs 463 targeting Rs 550, but advises a stop-loss at Rs 408. For Tata Power, a buy range of Rs 397-410 is suggested, targeting Rs 490-500, with a stop-loss at Rs 370. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
