Breakout stocks to buy or sell: The Indian stock market started the week on a cautious note, finishing lower on Monday, September 15, as investors awaited the outcome of the US Federal Reserve’s policy meeting.
The BSE Sensex slipped 119 points, or 0.15 per cent, to settle at 81,786, while the NSE Nifty 50 declined 45 points, or 0.18 per cent, to close at 25,069, falling below the 25,100 mark. With this drop, the Sensex ended its five-session winning streak, and the Nifty broke its eight-day run of consecutive gains.
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 is sustaining above 25,000 levels.
Speaking on the outlook of Indian stock market, Bagadia said, “ The key benchmark index is facing hurdle at 25,150 levels. A decisive breakout above 25,250 to 25,300 will set a fresh positive tone and we can expect the 50-stock index to touch 25,800 levels soon. 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: Hariom Pipe Industries, Sarda Energy & Minerals, Gabriel India, Marathon Nextgen Realty, and NDR Auto Components.
1] Hariom Pipe Industries: Buy at ₹527, target ₹565, stop loss ₹507;
2] Sarda Energy & Minerals: Buy at ₹631, target ₹675, stop loss ₹610;
3] Gabriel India: Buy at ₹1302, target ₹1400, stop loss ₹1250;
4] Marathon Nextgen Realty: Buy at ₹631, target ₹680, stop loss ₹605;
5] NDR Auto Components: Buy at ₹1127, target ₹1215, stop loss ₹1088.
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.
