Breakout stocks buy or sell: Indian stock markets ended in the red for the second consecutive session on Wednesday, June 18, amid rising geopolitical tensions between Israel and Iran, which dampened investor sentiment.
The Sensex declined by 139 points, or 0.17 per cent, to close at 81,444.66, while the Nifty 50 dropped 41 points, or 0.17 per cent, to settle at 24,812.05. The BSE Midcap and Smallcap indices also slipped, each losing 0.34 per cent.
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 — Sakar Healthcare, Yuken India, DEE Development Engineers, NDR Auto Components, and Pearl Global Industries.
1] Sakar Healthcare: Buy at ₹363, target ₹390, stop loss ₹350;
2] Yuken India: Buy at ₹1108, target ₹1190, stop loss ₹1080;
3] DEE Development Engineers: Buy at ₹300, target ₹322, stop loss ₹292;
4] NDR Auto Components: Buy at ₹988.2, target ₹1060, stop loss ₹950;
5] Pearl Global Industries: Buy at ₹1467.8, target ₹1580, stop loss ₹1414.
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.
