Breakout stocks buy or sell: Continuing their decline for a second straight session, India’s key stock indices—the Sensex and Nifty 50—closed lower on Monday, May 19, amid negative global signals.
The Sensex dropped 271 points, or 0.33%, to end at 82,059.42, while the Nifty 50 slipped 75 points, or 0.30%, to finish at 24,944.45.
The mid- and small-cap sectors maintained their strong performance, with the BSE Midcap index increasing by 0.27% and the Smallcap index advancing by 0.75%.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that the Indian stock market sentiment is positive until the Nifty 50 index is above 24,800.
Speaking on the outlook of Indian stock market, Bagadia said, “ The 50-stock index is facing hurdle at 25,400 while the key benchmark index has crucial support placed at 24,500. One can assume bullish or bearish trend on the breakage of either side of the range. So, one should maintain stock-specific approach and look at those stocks that are looking strong on the technical chart. Breakout stocks can be a good option.”
Stocks to buy today
Sumeet Bagadia recommends five shares to buy today — BASF India, Wheels India, Aarti Drugs, Inox Wind, and KPI Green Energy.
1] BASF India: Buy at ₹4902.90, target ₹5450, stop loss ₹4665;
2] Wheels India: Buy at ₹772.65, target ₹850, stop loss ₹735;
3] Aarti Drugs: Buy at ₹480.60, target ₹530, stop loss ₹455;
4] Inox Wind: Buy at ₹185.61, target ₹205, stop loss ₹176;
5] KPI Green Energy: Buy at ₹485.70, target ₹540, stop loss ₹460.
Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.
