Breakout stocks to buy or sell: The Indian stock market faced sustained selling pressure as benchmark indices — the Sensex and Nifty 50 — declined for the second straight session. On Thursday, November 6, broader market indices, including mid- and small-cap stocks, saw sharper declines of over 1% each.
The Sensex slipped 148 points or 0.18% to close at 83,311, while the Nifty 50 fell 88 points or 0.34% to end at 25,509.70. The BSE Midcap index dropped 1.19%, and the BSE Smallcap index tumbled 1.53%.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that the Indian stock market sentiment has shattered as the Nifty 50 index is sustaining below 25,600.
Speaking on the outlook of the Indian stock market, Bagadia said, “ The key benchmark index may try to test 25,400 levels and 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: Aditya Infotech, Senores Pharmaceuticals, Atlanta Electricals, Anand Rathi Share and Stock Brokers, and Sakar Healthcare.
1] Aditya Infotech: Buy at ₹1402, target ₹1500, stop loss ₹1350;
2] Senores Pharmaceuticals: Buy at ₹799, target ₹860, stop loss ₹770;
3] Atlanta Electricals: Buy at ₹995, target ₹1070, stop loss ₹965;
4] Anand Rathi Share and Stock Brokers: Buy at ₹539, target ₹580, stop loss ₹520;
5] Sakar Healthcare: Buy at ₹390, target ₹420, stop loss ₹375.
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.
