SJVN Share Price Target 2024: A Multibagger Stock with Huge Potential for Growth

As students preparing for competitive exams, it is essential to stay updated on the latest trends and developments in the stock market. One such stock that has been making headlines is SJVN Limited, a power generation PSU that has delivered multibagger returns in the past. In this article, we will delve into the reasons behind its success and explore whether it is the right time to invest in this stock for further gains.

SJVN Limited has been a favorite among investors, with its shares multiplying several times in the last two years. In the past one year alone, the stock has risen by a whopping 200 per cent, making it an attractive option for those looking to invest in the power sector. To put this into perspective, if someone had invested Rs 1 lakh in SJVN shares, their money would have grown to around Rs 3.13 lakh now.

So, what makes SJVN Limited a stock worth considering? One reason is its recent breakout on the daily chart, indicating a potential bullish trend. Prior to this breakout, the stock had been consolidating for 18 days, precisely on the 50-day Exponential Moving Average (DEMA) on the daily scale. This consolidation phase created a solid foundation for the subsequent breakout, said Jigar S Patel, Senior Manager - Technical Research, Anand Rathi Shares and Stock Brokers.

Another reason to consider SJVN Limited is its daily Relative Strength Index (RSI), which has reversed from 40 and is now near 60. This is a positive indicator for the stock, suggesting that it may continue to rise in the coming days. Based on this analysis, Patel has recommended taking a long position on SJVN within the price range of Rs 140-142, with an upside target of Rs 155. To manage risk, it is advisable to set a stop-loss at 134 on a daily closing basis.

Prabhudas Lilladher’s Vaishali Parekh also shared her insights on SJVN Limited, stating that a decisive breach above Rs 153 shall further strengthen the trend, with a potential target of Rs 168-170 levels in the coming days. She also highlighted that the near-term support is at 137 zone, while the major support lies near 130 level below which the trend shall turn weak.

In conclusion, SJVN Limited has been a multibagger stock with huge potential for growth. Its recent breakout and positive RSI indicators suggest that it may continue to rise in the coming days. However, it is essential to consult financial advisors before making any investment decisions. As students preparing for competitive exams, it is crucial to stay updated on the latest trends and developments in the stock market, and SJVN Limited is definitely a stock worth considering.

Key Takeaways:

• SJVN Limited has delivered multibagger returns in the past, with its shares rising by 200 per cent in the last one year.
• The stock has recently broken out on the daily chart, indicating a potential bullish trend.
• The daily RSI has reversed from 40 and is now near 60, suggesting that the stock may continue to rise.
• Patel recommends taking a long position on SJVN within the price range of Rs 140-142, with an upside target of Rs 155.
• Parekh suggests that a decisive breach above Rs 153 shall further strengthen the trend, with a potential target of Rs 168-170 levels in the coming days.

Historical Context:

SJVN Limited, a power generation PSU, has been a favorite among investors in recent years, delivering multibagger returns. The company’s shares have multiplied several times in the last two years, making it an attractive option for those looking to invest in the power sector. The stock’s recent breakout on the daily chart and positive RSI indicators suggest that it may continue to rise in the coming days.

SJVN Limited’s success can be attributed to its ability to generate power efficiently and its focus on renewable energy sources. The company has been expanding its renewable energy portfolio, which has helped it to reduce its carbon footprint and increase its revenue. Additionally, SJVN Limited has been investing in new technologies and infrastructure to improve its operational efficiency and reduce costs.

In the past, SJVN Limited has faced challenges such as delays in project implementation and regulatory issues. However, the company has been working to address these issues and has made significant progress in recent years. The company’s efforts have been recognized by the government, which has awarded it several projects in the renewable energy sector.

Summary in Bullet Points:

• SJVN Limited has delivered multibagger returns in the past, with its shares rising by 200 per cent in the last one year.
• The stock has recently broken out on the daily chart, indicating a potential bullish trend.
• The daily RSI has reversed from 40 and is now near 60, suggesting that the stock may continue to rise.
• Patel recommends taking a long position on SJVN within the price range of Rs 140-142, with an upside target of Rs 155.
• Parekh suggests that a decisive breach above Rs 153 shall further strengthen the trend, with a potential target of Rs 168-170 levels in the coming days.
• SJVN Limited has been expanding its renewable energy portfolio and investing in new technologies and infrastructure to improve its operational efficiency and reduce costs.
• The company has been working to address challenges such as delays in project implementation and regulatory issues.
• SJVN Limited has been recognized by the government for its efforts in the renewable energy sector.