Breakout stocks to buy or sell: Indian benchmark indices closed slightly lower on Tuesday after a highly volatile session, despite some late buying support.
The BSE Sensex slipped over 550 points during the day to touch an intraday low of 84,219.39 before ending 151 points, or 0.18 per cent, lower at 84,628. Likewise, the NSE Nifty 50 fell 150 points to hit a low of 25,810.05 but managed to recover partially, finishing 30 points, or 0.11 per cent, down at 25,936.
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 has closed around 25,950 levels.
Speaking on the outlook of the Indian stock market, Bagadia said, “ The key benchmark index is facing hurdle at 26,000 and it may touch 26,300 on breaking above 26,000 levels in a decisive basis. 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: Remsons Industries, Anand Rathi Share and Stock Brokers, Sai Life Sciences, TTK Prestige, and Kirloskar Oil Engines.
1] Remsons Industries: Buy at ₹141.5, target ₹152, stop loss ₹136.5;
2] Anand Rathi Share and Stock Brokers: Buy at ₹521, target ₹560, stop loss ₹500;
3] Sai Life Sciences: Buy at ₹898, target ₹965, stop loss ₹865;
4] TTK Prestige: Buy at ₹716, target ₹777, stop loss ₹690;
5] Kirloskar Oil Engines: Buy at ₹1005, target ₹1085, stop loss ₹970.
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.
