Breakout stocks buy or sell: The Indian stock market closed the final trading session of June in negative territory, as investors locked in profits after a strong four-day rally.
Despite this dip, the market ended the month with gains for the fourth straight time. The Nifty 50 rose by 3.10% and the Sensex gained 2.65% in June, taking the combined gains over the past four months for both indices to more than 15%.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that Indian stock market sentiment is positive but the Nifty 50 index is facing hurdle at 25,650 to 25,700 zone.
Speaking on the outlook of Indian stock market, Bagadia said, “ On the lower side, Nifty today has immediate support at 25,500, whereas it has crucial support at 25,250 to 25,200 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: Chaman Lal Setia Exports, DB Corp, Jammu and Kashmir Bank, Karur Vysya Bank, and Hubtown.
1] Chaman Lal Setia Exports: Buy at ₹381.65, target ₹410, stop loss ₹368;
2] DB Corp: Buy at ₹284.65, target ₹305, stop loss ₹274;
3] Jammu and Kashmir Bank: Buy at ₹115.85, target ₹125, stop loss ₹111;
4] Karur Vysya Bank: Buy at ₹267.55, target ₹475, stop loss ₹258;
5] Hubtown: Buy at ₹269.05, target ₹288, stop loss ₹259.
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.
