Breakout stocks to buy or sell: Breaking their two-day winning streak, the Sensex and Nifty 50 closed lower on Monday, October 13, tracking mixed global cues.
The Sensex declined 174 points, or 0.21 per cent, to finish at 82,327.05, while the Nifty 50 fell 58 points, or 0.23 per cent, to end at 25,227.35. Among broader indices, the BSE Midcap slipped 0.18 per cent and the Smallcap dropped 0.43 per cent.
Domestic equities weakened as investors booked profits following renewed worries over US tariffs. On Friday, US President Donald Trump announced an additional 100 per cent tariff on Chinese goods, on top of the existing 30 per cent duties, effective November 1 or earlier.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that the Indian stock market sentiment is positive as the Nifty 50 index has closed above 25,200 despite a gap down opening around 25,150.
Speaking on the outlook of Indian stock market, Bagadia said, “ However, the 50-stock index is facing hurdle at 25,300. On breaking above 25,300 on a closing basis, the key benchmark index may soon touch 25,500. 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: Swaraj Engines, Sirca Paints India, Krishna Institute Of Medical Sciencs, FINO Payments Bank, and HBL Engineering.
1] Swaraj Engines: Buy at ₹4360, target ₹4685, stop loss ₹4200;
2] Sirca Paints India: Buy at ₹501, target ₹540, stop loss ₹483;
3] Krishna Institute Of Medical Sciencs: Buy at ₹713, target ₹770, stop loss ₹688;
4] FINO Payments Bank: Buy at ₹313, target ₹336, stop loss ₹300;
5] HBL Engineering: Buy at ₹917, target ₹990, stop loss ₹885.
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.
