Breakout stocks to buy or sell: The Indian stock market extended its winning streak for the second straight session on Thursday, October 16, with benchmark indices — the Sensex and Nifty 50 — climbing over 1 per cent each, supported by upbeat global cues.
The Sensex advanced 862 points, or 1.04 per cent, to close at 83,467.66, while the Nifty 50 gained 1.03 per cent to finish at 25,585.30. Among broader indices, the BSE Midcap rose 0.29 per cent and the Smallcap index added 0.47 per cent.
Over the past two sessions, the Sensex has jumped 1,438 points, or nearly 2 per cent, despite lingering concerns about US tariffs and stretched valuations. The Nifty 50, too, has advanced close to 2 per cent, reclaiming the 25,550 level.
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 further gained after breaking above 25,300.
Speaking on the outlook of Indian stock market, Bagadia said, “The index is looking set to touch 25,800 in the near term. 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: Parag Milk Foods, Privi Speciality Chemicals, Hindware Home Innovation, Ramco Systems, and Endurance Technologies.
1] Parag Milk Foods: Buy at ₹286, target ₹305, stop loss ₹275;
2] Privi Speciality Chemicals: Buy at ₹2744, target ₹2940, stop loss ₹2640;
3] Hindware Home Innovation: Buy at ₹371, target ₹400, stop loss ₹360;
4] Ramco Systems: Buy at ₹582, target ₹625, stop loss ₹560;
5] Endurance Technologies: Buy at ₹2932, target ₹3150, stop loss ₹2828.
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.
