Breakout stocks buy or sell: The Indian stock market closed with modest gains on Tuesday, June 24, as investors booked profits at higher levels. During the session, the Sensex surged over 1,100 points, and the Nifty 50 crossed the 25,300 mark. However, gains were trimmed following media reports of a ceasefire breach by Iran.
The Sensex opened at 82,534.61, up from its previous close of 81,896.79, and climbed more than 1% to hit an intraday high of 83,018. Similarly, the Nifty 50 opened at 25,179.90, compared to its last close of 24,971.90, and rose over 1% to touch an intraday peak of 25,317.70.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that Indian stock market sentiment is guided by the geopolitical tension caused by Israel-Iran news.
Speaking on the outlook of Indian stock market, Bagadia said, “ The Nifty 50 index is trading in a broader 24,500 to 25,250 range. Bullish or bearish trend can be assumed in 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 breakout stocks to buy today: CCL Products (India), SBFC Finance, LT Foods, Vishal Mega Mart, and Delhivery.
1] CCL Products (India): Buy at ₹850.35, target ₹920, stop loss ₹820;
2] SBFC Finance: Buy at ₹107.5, target ₹116, stop loss ₹103;
3] LT Foods: Buy at ₹441.7, target ₹477, stop loss ₹426;
4] Vishal Mega Mart: Buy at ₹133.02, target ₹145, stop loss ₹128;
5] Delhivery: Buy at ₹377.05, target ₹405, stop loss ₹363.
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.
