Stocks to Watch – V-Mart Retail share – Top BUY for BIG GAINS, says this analyst; gives outlook, targets and stop loss

Stocks in News – V-Mart Retail share – Retail fashion company V-Mart Retail Limited shares were trading negatively on Tuesday. At 3:20 pm on the NSE, the V-Mart shares were trading at Rs 3452.20, down by almost 0.6 per cent. The stock was trading with insignificant volumes around this time with only 22,186 shares being traded at this time. The traded value of V Mart Retail shares was RS 7.66 cr.  

Analyst Nilesh Jain, who is Assistant Vice President (AVP), Equity Research Technical and Derivatives at Centrum Broking was bullish on this stock and sees and upside of 12-15 per cent from the current levels. Jain said that the trends look positive on the technical charts and the momentum was positive.  

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The V-Mart Retail Limited stock was making higher tops and higher bottoms and this could potentially be the outperformer in the FMCG segment, the technical analyst said. 

The stock is poised well to see an appreciation of 12-15 per cent. He recommended a buy at current levels. He puts the stop loss at Rs 3850, while the target price at Rs 4300- Rs 4500. 

The 52-week high for this stock is Rs 4,085, which it achieved on 30 July 2021. Meanwhile, the 52-week low is 1880.50 which this stock hit on 15 October 2020.  

The V-Mart Retail share prices have been on a correcting spree since the beginning of September and have fallen from the levels of 3,642.55 it achieved on 2 September. Over the last 7 trading sessions including today’s, the stock has seen a downward movement.  

The stock of V-Mart Retail today opened at Rs 3,473 while achieving an intraday high of Rs 3499 while an intraday low of Rs 3430.