Breakout stocks buy or sell: The Indian stock market recorded moderate gains on Monday, August 25, driven by buying in select IT and financial majors such as Infosys, TCS, HCL Tech, and HDFC Bank.
The Sensex advanced 329 points, or 0.40 per cent, to close at 81,635.91, while the Nifty 50 climbed 98 points, or 0.39 per cent, to end at 24,967.75. However, the mid- and small-cap segments lagged, with the BSE Midcap index inching up 0.10 per cent and the Smallcap index edging down 0.02 per cent.
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 is sustaining above the 50-DEMA support placed at 24,850.
Speaking on the outlook of Indian stock market, Bagadia said, “The key benchmark ark index is facing resistance at 25,250 to 25,300 levels. 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.”
Stocks to buy today
Sumeet Bagadia recommends five breakout stocks to buy today: Garuda Construction and Engineering, Pudumjee Paper Products, eClerx Services Limited, Asian Energy Services, and Pondy Oxides and Chemicals.
1] Garuda Construction and Engineering: Buy at ₹211, target ₹230, stop loss ₹205;
2] Pudumjee Paper Products: Buy at ₹142.5, target ₹152, stop loss ₹136;
3] eClerx Services Limited: Buy at ₹4238, target ₹4570, stop loss ₹4080;
4] Asian Energy Services: Buy at ₹360.85, target ₹386, stop loss ₹348;
5] Pondy Oxides and Chemicals: Buy at ₹1156.1, target ₹1240, stop loss ₹1115.
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.
