Breakout stocks to buy or sell: The Indian stock market indices were dragged down by escalating tensions in the Middle East and uncertainty over Trump tariffs. The Nifty 50 index closed 0.68 per cent lower at 24,718.60 points, compared to 24,888.20 points at the previous market close.
The BSE Sensex index closed 0.70 per cent lower at 81,118.60 points after Friday’s stock market session, compared to 81,691.98 points at the previous market close.
Sumeet Bagadia’s breakout stock recommendation
Sumeet Bagadia, Executive Director at Choice Broking, believes that the Nifty 50 index’s sentiment has turned cautious as the index has found a new support at the 24,000 level, with the immediate support at 24,500 points due to the Israel-Iran turmoil. The market bias is expected to turn weak if the index breaks below the 24,500 level.
On the outlook for the Indian stock market today, Sumeet Bagadia said, “The Indian stock market sentiment has turned cautious as the Nifty 50 index has made a new support at 24,000, while it’s immediate support placed at 24,500, looks vulnerable due to the Israel-Iran war buzz. The market bias may turn weak once the key benchmark index breaks below 24,500 on a closing basis. 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.”
Regarding breakout stocks to buy today, Sumeet Bagadia recommended buying Jubilant Ingrevia, Shipping Corporation of India, Nazara Tech, 360 ONE WAM, and Sandhar Technologies.
Stocks to buy today
1. Jubilant Ingrevia Ltd (JUBLINGREA): Buy at ₹793.55; Target Price at ₹850; Stop Loss at ₹765.
2. Shipping Corporation of India Ltd (SCI): Buy at ₹227.06; Target Price at ₹244; Stop Loss at ₹219.
3. Nazara Technologies Ltd (NAZARA): Buy at ₹1,327.8; Target Price at ₹1,420; Stop Loss at ₹1,280.
4. 360 ONE WAM Ltd (360ONE): Buy at ₹1,140.5; Target Price at ₹1,215, Stop Loss at ₹1,100.
5. Sandhar Technologies Ltd (SANDHAR): Buy at ₹534.7; Target Price at ₹570; Stop Loss at ₹515.
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.
