Breakout stocks buy or sell: The Indian stock market ended nearly unchanged on Friday, September 5, as profit booking continued amid concerns over Trump’s tariffs and their potential economic impact, along with sustained foreign capital outflows affecting sentiment.
Although the Sensex and Nifty 50 opened higher, they failed to hold on to their early gains despite supportive global cues and expectations of a US Fed rate cut later this month.
The Sensex slipped 7 points to close at 80,710.76, while the Nifty 50 added 7 points to finish at 24,741. The BSE Midcap index declined 0.10 per cent, whereas the Smallcap index inched up by 0.09 per cent.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that Indian stock market sentiment is positive as the Nifty 50 index closed above the 20-DEMA at 24,710.
Speaking on the outlook of Indian stock market, Bagadia said, “The key benchmark index faces a hurdle at 25,000 after making an immediate base of 24,600. On breaking above 25,000 decisively, we can expect a fresh bull trend in the Indian secondary market. So, one should look at those stocks that look strong on the technical chart pattern.”
Stocks to buy today
Sumeet Bagadia recommends five breakout stocks to buy today: Indian Metals and Ferro Alloys, NDR Auto Components, Varroc Engineering, Carysil and Avalon Technologies.
1] Indian Metals and Ferro Alloys: Buy at ₹970, target ₹1040, stop loss ₹935;
2] NDR Auto Components: Buy at ₹1127, target ₹1212, stop loss ₹1085;
3] Varroc Engineering: Buy at ₹605, target ₹650, stop loss ₹585;
4] Carysil: Buy at ₹959, target ₹1030, stop loss ₹925;
5] Avalon Technologies: Buy at ₹922, target ₹990, stop loss ₹890.
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.
