Multibagger stock to buy: AGI Infra shares give technical breakout logging 14% rally in one week. Do you own?
This achievement follows a remarkable performance over the past year, with AGI Infra stock rising by 131.69%, which significantly surpasses the Sensex's gain of only 5.68% during the same timeframe.
AGI Infra share price today opened at an intraday high of ₹ 1,019 apiece on the BSE, the stock touched an intraday low of ₹ 974.45 apiece.
According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, AGI Infra share price has witnessed a sharp move this week, rallying over 10% and breaking out of a consolidation phase that had persisted since December.
Bhosale believes that typically, such breakouts following prolonged ranges suggest the beginning of a fresh trending move. This stock, generally known for low volumes, saw muted activity during the consolidation. However, post-breakout, volumes have surged significantly, highlighting renewed investor interest.
'Technically, the momentum is building up—RSI has crossed above the 60 mark on both daily and weekly charts, confirming strong bullish sentiment. Given the previous consolidation range of around 200 points, the breakout could lead to an equivalent upside, pointing to potential near-term targets around 1150. On the downside, the recent swing low of 850 acts as a critical support and can be considered as a stop-loss level,' said Rajesh Bhosale.
AGI Infra is a well-known company based in Punjab that has been active in the construction sector for over ten years. The company has completed numerous high-rise building projects in Punjab, encompassing both residential and commercial developments. It has built a solid reputation in the real estate market in Punjab by creating diverse projects that emphasize innovative design, effective project management, and quality construction.
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