Breakout stocks buy or sell: Indian stock market benchmarks — the Sensex and Nifty 50 — closed flat on Monday, July 7, following uncertainty surrounding the India-US trade deal weighed on investor sentiment. The Nifty 50 closed unchanged at 25,461, while the Sensex edged up by just 9.61 points, or 0.01 percent, to settle at 83,442.50.
Meanwhile, the broader markets saw some weakness, with the Nifty Midcap index slipping 0.27 percent and the Smallcap index declining by 0.4 percent.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that despite the Nifty 50 index trading in a tight range, the positive sentiment of the Indian stock market is still sustaining.
Speaking on the outlook of Indian stock market, Bagadia said, “ The Nifty 50 index is facing hurdle at 25,550, whereas the key benchmark index has made strong support at 25,250 levels. On breaking above 25,550 on a closing basis, the 50-stock index may soon touch 25,700 and 26,200 levels. 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.”
Stocks to buy today
Sumeet Bagadia recommends five breakout stocks to buy today: Aries Agro Ltd (CN), IND Swift Laboratories, Huhtamaki India, Bliss GVS Pharma, and Diamond Power Infrastructure.
1] Aries Agro Ltd (CN): Buy at ₹356, target ₹380, stop loss ₹264;
2] IND Swift Laboratories: Buy at ₹120.15, target ₹130, stop loss ₹116;
3] Huhtamaki India: Buy at ₹231.73, target ₹250, stop loss ₹223;
4] Bliss GVS Pharma: Buy at ₹162.97, target ₹176, stop loss ₹157;
5] Diamond Power Infrastructure: Buy at ₹145.25, target ₹156, stop loss ₹140.
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.
