Hat-trick multibaggers! These 4 stocks have been giving over 100% annual return in last 3 years - Economic Times

NEW DELHI: With all the helicopter money that flooded Dalal Street in the pandemic-hit years of 2020 and 2021 drying away this year, money making was once again a tough exercise for both traders and investors. Multibaggers were not as widespread in investor portfolios as they were in 2021. The smallcap index is ending 2022 with a cut of around 14%.

Among the thousands of stocks that trade everyday on Dalal Street, we have filtered out four stocks that have been giving over 100% annual returns in the last 3 years.

& Adhesives | CMP: Rs 1,299

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After more than doubling for two consecutive years in 2020 and 2021, shares of speciality chemical player Jyoti Resins & Adhesives have gone up 3 times in 2022. Since last year, the stock has been rising continuously with higher highs and higher lows. On the weekly chart, the smallcap stock has not faced any major profit booking after 2021.

Mahesh Prakot, Technical Analyst, Bonanza Portfolio said Jyoti Resins has formed a Bearish Engulfing candlestick pattern and settled just below the Middle Bollinger Band. On the momentum front, the MACD histogram is hovering in the negative territory with a declining trajectory which points to a weaker momentum. The 50% Fibonacci Retracement level of the last waves is placed around the Rs 1,000 mark, so It will act as immediate support on a closing basis in the near term. The daily strength indicator RSI is in bearish mode and sustaining below the 50 mark, indicating bearish strength. Hence, based on the above technical structure the analyst expects profit booking till Rs 1,000 level.

On the downside, the stock may find support around Rs 1,000 and Rs 950 for a fresh long position while upside resistance is intact at Rs 1,450 and Rs 1,810.
| CMP: Rs 3,797

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Having more than doubled in the calendar year 2022, shares of multibagger Adani Enterprises are the best performing of all Nifty stocks. Prakot said the primary trend of the stock continues to remain bullish. On a higher time frame, the stock denotes the formation of a series of higher highs and higher lows. Elliott wave analysis shows the stock has successfully completed its 3rd primary wave and has broken the rising channel on the weekly timeframe. Now the upper band of the channel acts as immediate support.

“A bullish move is possible in the stock after a small correction. On the downside, it may find the demand zone around Rs 3,300-3,330 range which can be used as a buying opportunity for the upside target of 4,200 and 4,400,” the analyst said.

| CMP: Rs 364

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The overall trend of the smallcap pharma stock has been bullish since March 2020 as prices have been rising continuously in higher highs and higher lows formation. The daily RSI is trading above the 50 mark. The analyst expects bullish moves in after a small correction. On the downside, it may find the demand zone around Rs 337-340 range which can be used as a buying opportunity for the upside target of Rs 410 and 470. | CMP: Rs 139

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After a long bullish rally now the stock is in a corrective mode. On the monthly time frame, the stock has formed Bearish Engulfing candlesticks indicating bearish pressure from the top. Elliot Wave analysis shows the stock has successfully completed its five waves and is now trading in corrective A wave (ABC), indicating that the profit booking may continue in the near term, Prakot said.

He recommends traders to use buy-the-dip strategy in Bigbloc stock and use the Rs 85-90 zone, which can be used as a buying opportunity for an upside target of Rs 150 and Rs 170.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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