Breakout stocks buy or sell: Indian stock market indices, the Sensex and Nifty 50, registered modest advances on Wednesday, June 11, supported by generally upbeat global trends. The Sensex rose by 123 points, or 0.15%, to close at 82,515.14, while the Nifty 50 ended 37 points, or 0.15%, higher at 25,141.40.
The mid and small-cap segments closed on a mixed note, with the BSE Midcap index declining by 0.12 per cent, while the BSE Smallcap index edged up by 0.06 per cent.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that Indian stock market sentiment has turned slightly cautious as the Nifty index slipped after hitting 25,200 levels.
Speaking on the outlook of Indian stock market, Bagadia said, “ The positive sentiment has remained intact as the key benchmark index has closed above the previous hurdle placed at 25,116. The 50-stock index may soon touch 25,600 on e it breaks above 25200 on a closing basis. 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 shares to buy today — CIE Automotive India, Dishman Carbogen Amcis, Sterling and Wilson Renewable Energy, Alembic, and SMC Global Securities.
1] CIE Automotive India: Buy at ₹478.25, target ₹512, stop loss ₹461;
2] Dishman Carbogen Amcis: Buy at ₹288.60, target ₹310, stop loss ₹278;
3] Sterling and Wilson Renewable Energy: Buy at ₹321.65, target ₹345, stop loss ₹310;
4] Alembic: Buy at ₹117.41, target ₹127, stop loss ₹113;
5] SMC Global Securities: Buy at ₹142.25, target ₹153, stop loss ₹137.
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.
