Breakout stocks buy or sell: the Indian stock market experienced a broad-based decline on Thursday, following the weakness in global markets due to escalating geopolitical tensions, persistent concerns over tariffs, and a weakening outlook for global economic growth.
The Sensex fell by 823 points, or 1 per cent, closing at 81,691.98, while the Nifty 50 slipped 253 points, or 1.01 per cent, to end at 24,888.20. The BSE Midcap and Smallcap indices also declined, registering losses of 1.52 per cent and 1.38 per cent, respectively.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that Indian stock market sentiment has turned weak as the Nifty 50 index has broken below 25,000.
Speaking on the outlook of Indian stock market, Bagadia said, “ The key benchmark index has now made new base at 24,500 levels, while the 50-stock index is facing resistance at 25,200. 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 shares to buy today — Sree Rayalaseema Hi-Strength Hypo, Nava, Rainbow Children’s Medicare, Suven Life Sciences, and Privi Speciality Chemicals.
1] Sree Rayalaseema Hi-Strength Hypo: Buy at ₹671.1, target ₹720, stop loss ₹650;
2] Nava: Buy at ₹560.25, target ₹600, stop loss ₹540;
3] Rainbow Children’s Medicare: Buy at ₹1458.2, target ₹1555, stop loss ₹1410;
4] Suven Life Sciences: Buy at ₹260.55, target ₹277, stop loss ₹250;
5] Privi Speciality Chemicals: Buy at ₹2360.9, target ₹2555, stop loss ₹2277.
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.
