Breakout stocks buy or sell: Benchmark indices—the Sensex and the Nifty 50—surged by nearly 4% each on Monday, May 12, marking their strongest single-day rally in four years. The rally was driven by a wave of positive developments, including the India-Pakistan ceasefire and progress on the US-China trade deal, which boosted investor confidence.
The BSE Sensex ended the day with a gain of 2,975 points, or 3.74%, closing at 82,430 after touching an intraday high of 82,495.97—just 4% shy of its all-time high of 85,978. Similarly, the NSE Nifty 50 reached a high of 24,944.80 before closing at 24,924.70, up 916.70 points or 3.82%.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that the Indian stock market sentiment has turned positive as the Nifty 50 index has closed above its previous high of 24,800.
Speaking on the outlook of Indian stock market, Bagadia said, “The 50-stock index is looking set to climb to 25K peak. In case of a closing above 25,000 levels, we can expect the key benchmark index to touch 25,300 soon. 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 for intraday trading.”
Stocks to buy today
Sumeet Bagadia recommends five shares to buy today — Caplin Point Laboratories, Kirloskar Electric Company, Global Health, JM Financial, and PNC Infratech.
1] Caplin Point Laboratories: Buy at ₹1944.40, target ₹2080, stop loss ₹1876;
2] Kirloskar Electric Company: Buy at ₹124.33, target ₹133, stop loss ₹120;
3] Global Health: Buy at ₹1227.10, target ₹1313, stop loss ₹1184;
4] JM Financial: Buy at ₹105.80, target ₹114, stop loss ₹102;
5] PNC Infratech: Buy at ₹259, target ₹280, stop loss ₹249.
Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.
