Breakout stocks buy or sell: India’s benchmark stock indices snapped a three-day losing streak on Friday, ending over 1% higher, supported by short-covering ahead of the monthly derivatives expiry and improved market sentiment after US President Donald Trump deferred his decision to back Israel’s strike on Iran.
The Sensex opened at 81,354.85, just below its previous close of 81,361.87, before rallying 1,133 points (1.4%) to touch an intraday high of 82,494.49. Similarly, the Nifty 50 started at 24,787.65, slightly lower than its previous close of 24,793.25, and rose 1.4% to reach an intraday high of 25,136.20.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that Indian stock market sentiment has improved after the sharp rally on Friday.
Speaking on the outlook of Indian stock market, Bagadia said, “ The Nifty 50 index is above 25,000 and the key benchmark index is set to touch 25,400 and 25,650 in short term. The index has made crucial base at 24,800. 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: Aeroflex Industries, Mishra Dhatu Nigam, Tourism Finance Corporation of India, Ask Automotive, and Gillanders Arbuthnot & Co.
1] Aeroflex Industries: Buy at ₹204.47, target ₹219, stop loss ₹197;
2] Mishra Dhatu Nigam: Buy at ₹443.30, target ₹480, stop loss ₹427;
3] Tourism Finance Corporation of India: Buy at ₹233.19, target ₹250, stop loss ₹225;
4] Ask Automotive: Buy at ₹471.30, target ₹505, stop loss ₹454;
5] Gillanders Arbuthnot & Co: Buy at ₹143.04, target ₹153, stop loss ₹138.
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.
