Breakout stocks buy or sell: Indian market benchmarks, the Sensex and Nifty 50, closed higher on Monday, September 1, breaking their three-day losing streak as buying was witnessed across sectors.
The Sensex gained 555 points, or 0.70 per cent, to finish at 80,364.49, while the Nifty 50 advanced 198 points, or 0.81 per cent, to settle at 24,625.05.
Mid and small-cap stocks outperformed the broader market, with the BSE Midcap index climbing 1.64 per cent and the Smallcap index rising 1.49 per cent.
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 bounced back strongly from 24,400 levels.
Speaking on the outlook of Indian stock market, Bagadia said, “The key benchmark index is facing hurdle at 24,800. Bullish or bearish trend can be assumed on the breakage of either side of this range. 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: Kaynes Technology India, Aries Agro, Tourism Finance Corporation of India, Gabriel India, eClerx Services Limited.
1] Kaynes Technology India: Buy at ₹6595, target ₹7050, stop loss ₹6363;
2] Aries Agro: Buy at ₹434.8, target ₹465, stop loss ₹417;
3] Tourism Finance Corporation of India: Buy at ₹322, target ₹345, stop loss ₹311;
4] Gabriel India: Buy at ₹1229.4, target ₹1313, stop loss ₹1185;
5] eClerx Services Limited: Buy at ₹4496, target ₹4825, stop loss ₹4333.
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.
