Breakout stocks buy or sell: The Indian stock market saw strong buying activity across various sectors, enabling the benchmark indices — Sensex and Nifty 50 — to break their four-day losing streak and close with solid gains, on Tuesday.
The Sensex advanced by 317 points, or 0.39%, to finish at 82,570.91, while the Nifty 50 climbed 114 points, or 0.45%, to close at 25,195.80.
Meanwhile, mid- and small-cap stocks maintained their strong performance, with the BSE Midcap index rising by 0.83% and the Smallcap index increasing by 0.95%.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that Indian stock market sentiment has improved as the Nifty 50 index has sustained above the crucial 50-DEMA support of 24,900.
Speaking on the outlook of Indian stock market, Bagadia said, “ The key benchmark index is expected to touch 25,500 and 25,700 if the 50-stock index sustains above 25,000. 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: Heranba Industries, Diamond Power Infrastructure, Vintage Coffee and Beverages, Samhi Hotels, and PTC India.
1] Heranba Industries: Buy at ₹395.75, target ₹425, stop loss ₹380;
2] Diamond Power Infrastructure: Buy at ₹172.92, target ₹187, stop loss ₹166;
3] Vintage Coffee and Beverages: Buy at ₹143.61, target ₹155, stop loss ₹138;
4] Samhi Hotels: Buy at ₹246.32, target ₹265, stop loss ₹237;
5] PTC India: Buy at ₹191.12, target ₹205, stop loss ₹184.
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.