Breakout stocks to buy or sell: Indian stock market benchmarks — the Sensex and Nifty 50 — extended their winning streak to a sixth straight session on Thursday, August 21. However, gains were capped by concerns over Trump’s tariffs, elevated valuations, and weak global cues.
The Sensex rose 143 points, or 0.17%, to close at 82,000.71, while the Nifty 50 inched up 33 points, or 0.13%, to settle at 25,083.75.
Meanwhile, the broader markets lagged behind, with the BSE Midcap index slipping 0.12% and the Smallcap index ending nearly unchanged.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that Indian stock market mood continues to remain strong 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 finding resistance at 25,150 levels. On breaking above this resistance, we can expect a fresh bull trend on Dalal Street.”
Stocks to buy today
Sumeet Bagadia recommends five breakout stocks to buy today: Sanghvi Movers, Syrma SGS Technology, Techno Electric & Engineering Company, Godawari Power and Ispat Limited, and Go Digit General Insurance Ltd.
1] Sanghvi Movers: Buy at ₹347, target ₹370, stop loss ₹335;
2] Syrma SGS Technology: Buy at ₹744, target ₹800, stop loss ₹719;
3] Techno Electric & Engineering Company: Buy at ₹1510, target ₹1620, stop loss ₹1460;
4] Godawari Power and Ispat Limited: Buy at ₹223, target ₹239, stop loss ₹215;
5] Go Digit General Insurance: Buy at ₹372, target ₹400, stop loss ₹360.
Jackson Hole Symposium
Central bankers and economists from around the world are gathering for the Fed’s economic symposium in Jackson Hole, Wyoming. The prestigious event in the Grand Teton mountains has been used to make key policy announcements. Powell is due to speak today at 10:00 AM in New York time.
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.
