Breakout stocks to buy or sell: The Indian stock market finished nearly unchanged for the second straight session on Monday, December 1. The Sensex slipped 65 points, or 0.08%, to 85,641.90, while the Nifty 50 ended at 26,175.75, down 27 points, or 0.10%. In the prior session as well, the Nifty 50 had eased 0.05% and the Sensex had edged lower by 0.02%.
The BSE Midcap index dipped 0.19%, while the Smallcap index inched up 0.05% on Monday. Meanwhile, the total market capitalisation of companies listed on the BSE stayed mostly steady at around ₹474 lakh crore.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that the Indian stock market sentiment is positive as the Nifty 50 index is sustaining above 26,000 after making a crucial support at 25,800 to 25,750 band.
“The key index is facing hurdle at 26,300. On breaking above this resistance on a closing basis, the 50-stock index may soon touch 26,500. 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,” Bagadia said.
Stocks to buy today
Sumeet Bagadia recommends five breakout stocks to buy today – Knowledge Marine & Engineering Works, Cupid, Garuda Construction and Engineering, Yatra Online, and Gokul Agro Resources.
1] Knowledge Marine & Engineering Works: Buy at ₹2988, target ₹3200, stop loss ₹2888;
2] Cupid: Buy at ₹349, target ₹375, stop loss ₹337;
3] Garuda Construction and Engineering: Buy at ₹219, target ₹236, stop loss ₹211;
4] Yatra Online: Buy at ₹181.65, target ₹195, stop loss ₹175;
5] Gokul Agro Resources: Buy at ₹217, target ₹233, stop loss ₹210.
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.
