Breakout stocks buy or sell: The Indian stock market extended its gains for the third consecutive session on Thursday, June 26. The Nifty 50 climbed 304 points, or 1.21 per cent, to settle at a nine-month high of 25,549.
Meanwhile, the Sensex advanced by 1,003 points, also up 1.21 per cent, closing at 83,759 — a level last witnessed in October 2024. With this rally, both benchmarks are now just 2.3 per cent short of their September highs.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that Indian stock market sentiment has turned positive as the Nifty 50 index has broken above the hurdle placed at 25,250 levels.
Speaking on the outlook of Indian stock market, Bagadia said, “ The key benchmark index is now heading for 25,800 in the near-term. On the lower side, 25,250 to 25,200 is expected to work as immediate support for the 50-stock index. 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: Moil, Nitin Spinners, Heranba Industries, Rallis India, and Usha Martin.
1] Moil: Buy at ₹387.20, target ₹415, stop loss ₹373;
2] Nitin Spinners: Buy at ₹398, target ₹426, stop loss ₹384;
3] Heranba Industries: Buy at ₹308.10, target ₹333, stop loss ₹295;
4] Rallis India: Buy at ₹328.35, target ₹352, stop loss ₹316;
5] Usha Martin: Buy at ₹345.80, target ₹375, stop loss ₹333.
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.
