Breakout stocks buy or sell: Indian benchmark indices saw a strong rebound during the day despite opening on a subdued note, with both the Nifty 50 and Sensex ending nearly 1% higher.
The Sensex ended the day with a strong gain of 677 points, or 0.84%, finishing at 81,796. Meanwhile, the Nifty 50 advanced by 227.90 points, or 0.90%, closing at 24,946.50. Broader markets also moved higher alongside the blue-chip stocks, with both the Nifty Midcap 100 and Nifty Smallcap 100 indices rising by 1% each in today’s session.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that Indian stock market sentiment is cautious to positive as the Nifty 50 index is trading in 24,500 to 25,200 range.
Speaking on the outlook of Indian stock market, Bagadia said, “ Bullish or bearish trend can be assumed on the breakage of either side of the range. So, one should maintain stock-specific approach and look at those stocks that are looking strong on the technical chart. Looking at breakout stocks can be a good option.”
Stocks to buy today
Sumeet Bagadia recommends five shares to buy today — Thirumalai Chemicals, Parag Milk Foods, Mangalore Chemicals and Fertilisers, Control Print, and V I P Industries.
1] Thirumalai Chemicals: Buy at ₹291.6, target ₹312, stop loss ₹280;
2] Parag Milk Foods: Buy at ₹226.02, target ₹242, stop loss ₹218;
3] Mangalore Chemicals and Fertilisers: Buy at ₹287.65, target ₹306, stop loss ₹276;
4] Control Print: Buy at ₹797.8, target ₹855, stop loss ₹770;
5] V I P Industries: Buy at ₹423, target ₹452, stop loss ₹405.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
