Breakout stocks to buy or sell: The benchmark indices — the Sensex and Nifty 50 — regained upward momentum on Wednesday, November 19, supported by select IT and banking majors despite mixed signals from global markets.
The Sensex ended the session at 85,186.47, up 513 points or 0.61%. The Nifty 50 advanced 143 points, or 0.55%, to close at 26,052.65. Performance across broader markets was mixed, with the BSE Midcap index inching up 0.34%, while the Smallcap index slipped 0.39%.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that the Indian stock market sentiment is positive as the Nifty 50 index once again bounced back strongly from 25,850 levels and touched 26,000 market.
“The key index is still not above the hurdle placed at 26,100. On breaking above this resistance on a closing basis, we can expect the 50-stock index to touch 26,700 and 27,000 respectively. 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,” said Bagadia.
Stocks to buy today
Sumeet Bagadia recommends five breakout stocks to buy today – Sanathan Textiles, KRN Heat Exchanger and Refrigeration, Latent View Analytics, Pearl Global Industries, and Zota Health Care.
1] Sanathan Textiles: Buy at ₹491, target ₹525, stop loss ₹472;
2] KRN Heat Exchanger and Refrigeration: Buy at ₹866, target ₹930, stop loss ₹835;
3] Latent View Analytics: Buy at ₹494, target ₹530, stop loss ₹475;
4] Pearl Global Industries: Buy at ₹1766, target ₹1900, stop loss ₹1700;
5] Zota Health Care: Buy at ₹1648, target ₹1777, stop loss ₹1600.
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.
