Breakout stocks to buy or sell: The Indian stock market saw broad-based buying across sectors on Wednesday, October 15, supported by upbeat global cues. The Sensex climbed 575 points, or 0.70 per cent, to close at 82,605.43, while the Nifty 50 advanced 178 points, or 0.73 per cent, to finish at 25,323.55. The BSE Midcap and Smallcap indices outperformed the benchmarks, gaining 1.07 per cent and 0.78 per cent, respectively.
Meanwhile, US Federal Reserve Chair Jerome Powell noted on Tuesday that although the overall economy remains resilient, the labor market shows signs of weakness—indicating the possibility of further rate cuts in October and potentially December.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that the Indian stock market sentiment has improved as the Nifty 50 index has bounced back strongly and closed above the crucial hurdle placed at 25,300.
Speaking on the outlook of Indian stock market, Bagadia said, “The 50-stock index is now heading for 25,700 levels. On the lower side, the key benchmark index has support placed at 25,000 levels.”
Stocks to buy today
Sumeet Bagadia recommends five breakout stocks to buy today: Manorama Industries, Aditya Infotech, Allied Blenders and Distillers, Krishna Institute Of Medical Sciencs, and TD Power Systems.
1] Manorama Industries: Buy at ₹1537, target ₹1650, stop loss ₹1480;
2] Aditya Infotech: Buy at ₹1423, target ₹1530, stop loss ₹1370;
3] Allied Blenders and Distillers: Buy at ₹541, target ₹580, stop loss ₹522;
4] Krishna Institute Of Medical Sciencs: Buy at ₹727, target ₹780, stop loss ₹700;
5] TD Power Systems: Buy at ₹634, target ₹680, stop loss ₹610.
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.
