Breakout stocks to buy or sell: The Indian stock market posted modest gains, aided by select heavyweights such as ICICI Bank, Bajaj Finance, and Reliance Industries, amid broadly positive global sentiment, on Friday, September 12.
The Sensex advanced 356 points, or 0.44 per cent, to close at 81,904.70, while the Nifty 50 rose 109 points, or 0.43 per cent, to settle at 25,114. Mid- and small-cap stocks also ended higher, though they lagged behind the benchmarks, with the BSE Midcap index up 0.09% and the Smallcap index gaining 0.27 per cent.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that Indian stock market bias has gained strength as the Nifty 50 index gained further after closing above 25,000 levels.
Speaking on the outlook of Indian stock market, Bagadia said, “ The index is facing a hurdle at 25,300. The first few hours of the Monday session would be crucial. If the 50-stock index breaks above this resistance on a closing basis, we can expect the key index to touch 25,800 levels. So, one should look at those stocks that look strong on the technical chart.”
Stocks to buy today
Sumeet Bagadia recommends five breakout stocks to buy today: Advait Energy Transitions, Data Patterns (India), Allied Blenders and Distillers, Vishal Mega Mart and Dr. Agarwal’s Health Care.
1] Advait Energy Transitions: Buy at ₹1880, target ₹2020, stop loss ₹1813;
2] Data Patterns (India): Buy at ₹2711, target ₹2929, stop loss ₹2600;
3] Allied Blenders and Distillers: Buy at ₹545, target ₹585, stop loss ₹525;
4] Vishal Mega Mart: Buy at ₹152, target ₹165, stop loss ₹146;
5] Dr. Agarwal’s Health Care: Buy at ₹433, target ₹465, stop loss ₹418.
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.
