Breakout stocks to buy or sell: Boosted by optimism around a possible India–US trade agreement, expectations of a 25-bps rate cut by the US Federal Reserve, and a stronger rupee against the dollar, the Indian stock market recorded solid gains on Tuesday, September 16.
The Sensex surged 595 points, or 0.73 per cent, to finish at 82,380.69, while the Nifty 50 advanced 170 points, or 0.68 per cent, to settle at 25,239.10. The BSE Midcap and Smallcap indices also climbed, rising 0.62 per cent and 0.66 per cent, respectively.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that Indian stock market sentiment is positive as the Nifty 50 index is sustaining above 25,000 levels.
Speaking on the outlook of Indian stock market, Bagadia said, “ The key benchmark index is facing hurdle at 25,250 levels. A decisive breakout above 25,250 to 25,300 will set a fresh positive tone and we can expect the 50-stock index to touch 25,800 levels soon. 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: Kross, Great Eastern Shipping Company, P N Gadgil Jewellers, Usha Martin, and Ramco Industries.
1] Kross: Buy at ₹229, target ₹245, stop loss ₹221;
2] Great Eastern Shipping Company: Buy at ₹1058, target ₹1140, stop loss ₹1020;
3] P N Gadgil Jewellers: Buy at ₹634, target ₹680, stop loss ₹615;
4] Usha Martin: Buy at ₹407, target ₹435, stop loss ₹393;
5] Ramco Industries: Buy at ₹384, target ₹412, stop loss ₹370.
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.
