Breakout stocks to buy or sell: India’s benchmark indices, Sensex and Nifty, ended lower for the second straight session on Monday, starting the week on a weak note as IT stocks came under pressure following the Trump administration’s order to levy a $100,000 fee on new H-1B visas.
The Nifty 50 slipped 125 points, or 0.49 per cent, to close at 25,202, while the Sensex declined 466 points, or 0.56 per cent, to finish at 82,160.
Major drag came from index heavyweights Reliance Industries and HDFC Bank, while cautious global sentiment also weighed on domestic markets.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that Indian stock market sentiment is cautious to positive as the Nifty 50 index has closed near it’s crucial support placed at 25,150.
Speaking on the outlook of Indian stock market, Bagadia said, “ On breaking below this support, may trigger sharp selling on Dalal Street. On the upper side, the key benchmark index is facing resistance at 25,450 to 25,500. So, bullish or bearish trend can be assumed on the breakage of either side of this range. Hence, 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: IFB Industries, Borosil Renewables, Balaji Telefilms, Marathon Nextgen Realty, and Talbros Automotive Components.
1] IFB Industries: Buy at ₹1760, target ₹1900, stop loss ₹1695;
2] Borosil Renewables: Buy at ₹618, target ₹660, stop loss ₹599;
3] Balaji Telefilms: Buy at ₹132, target ₹142, stop loss ₹127;
4] Marathon Nextgen Realty: Buy at ₹670, target ₹720, stop loss ₹648;
5] Talbros Automotive Components: Buy at ₹306.5, target ₹330, stop loss ₹295.
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.
