Breakout stocks to buy or sell: The Indian stock market closed on a positive note on Wednesday, lifted by optimism that an India-US trade agreement could be finalized soon following an update from US President Donald Trump on the ongoing talks.
The Sensex advanced 324 points, or 0.40 per cent, to finish at 81,425.15, while the Nifty 50 gained 105 points, or 0.42 per cent, to settle at 24,973.10. Broader markets outperformed, with the BSE Midcap index rising 0.84 per cent and the Smallcap index climbing 0.72 per cent.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that Indian stock market sentiment is improving day by day as the Nifty 50 is slowly but steadily closing towards 25,000 levels.
Speaking on the outlook of Indian stock market, Bagadia said, “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 idea.”
Stocks to buy today
Sumeet Bagadia recommends five breakout stocks to buy today: Bharat Seats, Pearl Global Industries, Prostarm Info Systems, Kingfa Science and Technolgy (India) and LT Foods.
1] Bharat Seats: Buy at ₹168.8, target ₹180, stop loss ₹163;
2] Pearl Global Industries: Buy at ₹1400, target ₹1500, stop loss ₹1350;
3] Prostarm Info Systems: Buy at ₹220.4, target ₹237, stop loss ₹211;
4] Kingfa Science and Technolgy (India): Buy at ₹4507, target ₹4848, stop loss ₹4350;
5] LT Foods: Buy at ₹453, target ₹488, stop loss ₹436.
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.
