Breakout stocks buy or sell: The Indian stock market closed on a positive note on Wednesday, May 14, supported by broadly favorable global signals indicating a reduction in geopolitical tensions.
The Sensex gained 182 points, or 0.22%, ending at 81,330.56, while the Nifty 50 advanced 89 points, or 0.36%, to settle at 24,666.90.
The BSE Midcap and Smallcap indices increased by 1.19% and 1.63%, respectively.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that the Indian stock market sentiment is cautious to positive as the Nifty 50 index is trading in 24,500 to 24,800 range.
Speaking on the outlook of Indian stock market, Bagadia said, “ Bullish or bearish trend can be assumed on the breakage of either side of the 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
Breakout stocks to buy or sell: Sumeet Bagadia recommends five shares to buy today — eClerx Services Limited, Fusion Finance, Acme Solar Holdings, DCX Systems, and Roto Pumps
1] eClerx Services Limited: Buy at ₹2748.70, target ₹2970, stop loss ₹2652;
2] Fusion Finance: Buy at ₹185.08, target ₹202, stop loss ₹178;
3] Acme Solar Holdings: Buy at ₹237.78, target ₹254, stop loss ₹229;
4] DCX Systems: Buy at ₹329.35, target ₹352, stop loss ₹318;
5] Roto Pumps: Buy at ₹257.05, target ₹275, stop loss ₹248.
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.
