Breakout stocks buy or sell: Indian equities extended their winning streak for the fourth straight session on Tuesday, August 19, supported by GST rationalisation measures and an upgrade in India’s credit rating, which boosted investor sentiment.
The Sensex advanced 371 points, or 0.46 per cent, to close at 81,644.39, while the Nifty 50 ended at 24,980.65, up 104 points, or 0.42 per cent. Meanwhile, the BSE Midcap and Smallcap indices outshone the benchmarks, each gaining around 1 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 closed above 50-DEMA resistance placed at 24,815 levels.
Speaking on the outlook of Indian stock market, Bagadia said,”A decisive breakout above 25,100 would injection a fresh bull trend on Dalal Street. 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: Hyundai Motor, SJS Enterprises, Solara Active Pharma Sciences, Allied Blenders and Distillers, and Eveready Industries India.
1] Hyundai Motor: Buy at ₹2581.3, target ₹2770, stop loss ₹2500;
2] SJS Enterprises: Buy at ₹1306, target ₹1400, stop loss ₹1265;
3] Solara Active Pharma Sciences: Buy at ₹645, target ₹690, stop loss ₹623;
4] Allied Blenders and Distillers: Buy at ₹527, target ₹565, stop loss ₹507;
5] Eveready Industries India: Buy at ₹438, target ₹470, stop loss ₹420.
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.
