Breakout stocks buy or sell: Indian benchmarks ended lower on Tuesday, mirroring weakness across Asian markets, as investors awaited India’s July inflation figures and the US inflation report, both seen as key factors that could sway market sentiment.
At the close, the BSE Sensex fell 368.49 points, or 0.46 per cent, to 80,235.59, while the NSE Nifty 50 declined 97.65 points, or 0.40 per cent, to settle at 24,487.40.
The broader market reflected a cautious mood, with the Nifty Midcap 100 slipping 0.27 per cent, while the Nifty Smallcap 100 finished unchanged, suggesting minimal activity outside the large-cap segment.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that the Indian stock market is trading in a broader range of 24,300 to 24,650.
Speaking on the outlook of Indian stock market, Bagadia said, “ Bullish or bearish trend can be assumed on the breakage of either side of this range. 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: Tbo Tek, Wockhardt, Hubtown, Acme Solar Holdings, and Diffusion Engineers.
1] Tbo Tek: Buy at ₹1445.4, target ₹1550, stop loss ₹1394;
2] Wockhardt: Buy at ₹1515.6, target ₹1622, stop loss ₹1462;
3] Hubtown: Buy at ₹348.85, target ₹375, stop loss ₹336;
4] Acme Solar Holdings: Buy at ₹285.9, target ₹306, stop loss ₹275;
5] Diffusion Engineers: Buy at ₹339.45, target ₹365, stop loss ₹327.
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.
