Breakout stocks buy or sell: A sharp wave of selling swept through the Indian stock market on Tuesday, August 26, pulling down benchmark indices as well as midcap and smallcap stocks by over 1 per cent each, wiping out nearly ₹6 lakh crore in investor wealth in a single session.
The Sensex dropped 849 points, or 1.04 per cent, to close at 80,786.54, while the Nifty 50 fell 256 points, or 1.02 per cent, to settle at 24,712.05. The BSE Midcap and Smallcap indices tumbled 1.34 per cent and 1.68 per cent, respectively.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that Indian stock market sentiment has turned weak as the Nifty 50 index has slipped below the 50-DEMA support placed at 24,850.
Speaking on the outlook of Indian stock market, Bagadia said, “The immediate support for the key benchmark index has now shifted at 24,500, which the 50-stock index try to test after the imposition of 50% Trump’s tariffs on India getting effective after the end of deadline given by the US administration. So, one should maintain stock-specific approach and look at those stocks that are looking strong on the technical chart.”
Stocks to buy today
Sumeet Bagadia recommends five breakout stocks to buy today: eClerx Services Limited, Devyani International, IPCA Laboratories, Ola Electric Mobility, and Vishal Mega Mart.
1] eClerx Services Limited: Buy at ₹4454.9, target ₹4767, stop loss ₹4298;
2] Devyani International: Buy at ₹174.09, target ₹187, stop loss ₹167;
3] IPCA Laboratories: Buy at ₹1434.5, target ₹1535, stop loss ₹1383;
4] Ola Electric Mobility: Buy at ₹50.82, target ₹54.37, stop loss ₹49;
5] Vishal Mega Mart: Buy at ₹153.14, target ₹164, stop loss ₹147.
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.
