Breakout stocks to buy or sell: The benchmark indices, Sensex and Nifty 50, closed lower on Tuesday, October 14, marking their second straight day of losses amid weak global cues. The Sensex declined 297 points, or 0.36 per cent, to finish at 82,029.98, while the Nifty 50 slipped 82 points, or 0.32 per cent, to settle at 25,145.50.
Broader markets also weakened, with the BSE Midcap index falling 0.74 per cent and the BSE Smallcap index dropping 0.95 per cent.
Both benchmark indices declined for the second straight session, weighed down by ongoing worries about a potential resurgence in US-China trade tensions.
US President Donald Trump on Friday announced an additional 100 per cent tariff on Chinese goods, on top of the existing 30 per cent duties, effective November 1 or earlier, in response to China’s newly imposed restrictions on rare earth elements.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that the Indian stock market sentiment is cautiously positive as the Nifty 50 index failed to break above 25,300 but sustaining above 25,100.
Speaking on the outlook of Indian stock market, Bagadia said, “ The support for the key benchmark index is now placed at 24,900. Bullish or bearish trend can be assumed on the breakage of either side of 24,900 to 25,300 range.”
Stocks to buy today
Sumeet Bagadia recommends five breakout stocks to buy today: Usha Martin, Inox Green Energy Services, Granules India, Premier Energies, and Swiggy.
1] Usha Martin: Buy at ₹480, target ₹515, stop loss ₹463;
2] Inox Green Energy Services: Buy at ₹251, target ₹270, stop loss ₹242;
3] Granules India: Buy at ₹570, target ₹611, stop loss ₹548;
4] Premier Energies: Buy at ₹1057, target ₹1135, stop loss ₹1020;
5] Swiggy: Buy at ₹440, target ₹470, stop loss ₹425.
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.
