550% returns in five years! Multibagger stock close to 52-week high ahead of preferential share allotment
Multibagger stock: PC Jeweller share price surged over 4% on Monday’s trading session ahead of preferential share allotment. In a filing with the exchange, PC Jeweller announced that its board is scheduled to convene on Wednesday, 11 December 2024, to authorize the issuance of 5,17,11,462 equity shares through a preferential allotment via private placement. PC Jeweller share price today opened at ₹175 apiece, the stock touched an intraday high of ₹179 per share and an intraday low of ₹168.50 apiece.
According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, PC Jeweller share prices have shown a significant recovery from their recent low of 140, with a flag pattern breakout visible on the daily chart. This suggests the potential for an upward move toward the previous high of 185, which serves as a crucial resistance. On the downside, immediate support is placed at 170.
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