Breakout stocks to buy or sell: The Indian stock market closed lower, with benchmark indices Sensex and Nifty 50 posting losses for the third straight session as worries over a possible H-1B visa fee hike and uncertainty surrounding India-US trade negotiations dampened investor sentiment.
The Sensex ended 58 points, or 0.07 per cent, down at 82,102.10, while the Nifty 50 slipped 33 points, or 0.13 per cent, to 25,169.50. Broader markets fared worse, with the BSE Midcap falling 0.29 per cent and the Smallcap index declining 0.35 per cent.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that Indian stock market sentiment has turned cautious as the Nifty 50 index has slipped gradually from 25,450 to 25200 levels.
Speaking on the outlook of Indian stock market, Bagadia said, “ The key benchmark index is facing hurdle at 25,250 and it has find immediate support at 25,100. On breaking below this support, next crucial support is placed at 24,900. 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: Ajmera Realty & Infra India, Suprajit Engineering, Borosil, Lumax Auto Technologies, and Remsons Industries.
1] Ajmera Realty & Infra India: Buy at ₹1079, target ₹1160, stop loss ₹1044;
2] Suprajit Engineering: Buy at ₹499, target ₹535, stop loss ₹482;
3] Borosil: Buy at ₹373, target ₹400, stop loss ₹360;
4] Lumax Auto Technologies: Buy at ₹1176, target ₹1270, stop loss ₹1132;
5] Remsons Industries: Buy at ₹133.14, target ₹143, stop loss ₹128.
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.
