Breakout stocks buy or sell: Indian stock market benchmarks, the Sensex and Nifty 50, ended lower for the third straight session on Friday, August 29, as worries over Trump’s tariffs and their potential economic impact continued to dampen sentiment.
The Sensex declined 271 points, or 0.34 per cent, to close at 79,809.65, while the Nifty 50 slipped 74 points, or 0.30 per cent, to finish at 24,426.85. The BSE Midcap and Smallcap indices also dropped, losing 0.41 per cent and 0.29 per cent, respectively.
On a weekly basis, the Sensex and Nifty 50 declined by nearly 2 per cent each, while on a monthly scale, they slipped 1.7 per cent and 1.3 per cent, respectively. This marked the second straight month of losses for both indices.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that Indian stock market sentiment has weakened as the Nifty 50 index has ended below 24,500.
Speaking on the outlook of Indian stock market, Bagadia said, “The key benchmark index has now immediate support placed at 200-DEMA of 24,000. 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: STEL Holdings, Asian Energy Services, Ather Energy, Commercial Syn Bags, and Lotus Eye Hospital and Institute.
1] STEL Holdings: Buy at ₹465.75, target ₹500, stop loss ₹449;
2] Asian Energy Services: Buy at ₹369.15, target ₹395, stop loss ₹356;
3] Ather Energy: Buy at ₹450.15, target ₹482, stop loss ₹434;
4] Commercial Syn Bags: Buy at ₹143.7, target ₹154, stop loss ₹138;
5] Lotus Eye Hospital and Institute: Buy at ₹116.84, target ₹125, stop loss ₹113.
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.
