Breakout stocks to buy or sell: Benchmark indices Sensex and Nifty 50 closed higher on Tuesday, marking their fourth straight session of gains, despite mixed global signals.
The upward momentum in domestic equities was tempered by profit booking ahead of the Q2 earnings season.
The Sensex advanced 137 points, or 0.17 per cent, to finish at 81,926.75, while the Nifty 50 inched up 31 points, or 0.12 per cent, to settle at 25,108.30. Among broader markets, the BSE Midcap index rose 0.45 per cent, whereas the Smallcap index slipped 0.15 per cent.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that Indian stock market bias is cautiously positive as the Nifty 50 index is facing hurdle at 24,200 to 24,250 range.
Speaking on the outlook of Indian stock market, Bagadia said, “ To keep the bias positive, the 50-stock index needs to sustain above 25,000 levels. For setting a bull trend on Dalal Street, the key benchmark index would require to break above 24,250 decisively. So, one should maintain stock-specific approach and look at those stocks that are looking strong on the technical chart.”
Stocks to buy today
Sumeet Bagadia recommends five breakout stocks to buy today: Transrail Lighting, Dr. Agarwal’s Health Care, India Nippon Electricals, Aditya Infotech, and Precision Wires India.
1] Transrail Lighting: Buy at ₹757, target ₹815, stop loss ₹730;
2] Dr. Agarwal’s Health Care: Buy at ₹506, target ₹550, stop loss ₹490;
3] India Nippon Electricals: Buy at ₹1079, target ₹1160, stop loss ₹1040;
4] Aditya Infotech: Buy at ₹1423, target ₹1530, stop loss ₹1365;
5] Precision Wires India: Buy at ₹209, target ₹225, stop loss ₹202.
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.
