Breakout stocks to buy or sell: The Indian stock market finished lower on Monday, November 24, as investors booked profits across sectors amid mixed signals from global markets.
With losses extending for a second straight day, the Sensex settled at 84,900.71, down 331 points or 0.39%, while the Nifty 50 closed at 25,959.50, slipping 109 points or 0.42%. The BSE Midcap index fell 0.27% and the Smallcap index dropped 0.83%.
Over the last two sessions, the Sensex has fallen by 732 points, or 0.85%. During the same period, investors have seen a wealth erosion of ₹7 lakh crore, as the total market capitalisation of BSE-listed companies declined to ₹469 lakh crore from ₹476 lakh crore on Thursday, November 20.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that the Indian stock market sentiment is cautious to positive as the Nifty 50 index has slipped below 26,000 but sustaining above 25,800 crucial support.
“The key index is facing hurdle at 26,150 and has slipped from these levels for the second time. So, a bullish or bearish trend can be assumed on the breakage of either side of this range. 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 – Yatharth Hospital & Trauma Cre Srvcs, Safari Industries (India), Acutaas Chemicals, Dr. Agarwal’s Health Care, and Sai Life Sciences.
1] Yatharth Hospital & Trauma Cre Srvcs: Buy at ₹792, target ₹850, stop loss ₹765;
2] Safari Industries (India): Buy at ₹2360, target ₹2540, stop loss ₹2275;
3] Acutaas Chemicals: Buy at ₹1872, target ₹2020, stop loss ₹1808;
4] Dr. Agarwal’s Health Care: Buy at ₹506, target ₹545, stop loss ₹488;
5] Sai Life Sciences: Buy at ₹883, target ₹950, stop loss ₹850.
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.
