New Delhi, May 27 -- Softtech Engineers' share price is likely on the cusp of delivering a technical breakout at Rs.470, according to Sumeet Bagadia, Executive Director at Choice Broking.

According to him, breaking above Rs.470 decisively would infuse a fresh uptrend in the multibagger stock.

He advises investors to buy this stock at current levels and adopt a buy-on-dips strategy, with a stop loss at Rs.400. After the breakout at Rs.470, one can tighten the stop loss to Rs.440 per share for fresh targets of Rs.500 and Rs.540 in the near term, he added.

On Wednesday, the multibagger breakout stock was trading around 2% higher. The stock touched an intraday high of Rs.449 apiece and an intraday low of Rs.430 on NSE on 27 May.

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