Breakout stocks buy or sell: The Indian stock market extended its winning streak for the fourth consecutive session on Friday, June 27, buoyed by largely positive global trends.
The Sensex rose by 303 points, or 0.36%, to settle at 84,058.90, while the Nifty 50 gained 89 points, or 0.35%, closing at 25,637.80. Broad-based buying was observed across the market, with the BSE Midcap index up by 0.38% and the Smallcap index increasing by 0.54%.
In the last four sessions, the Sensex has surged by 2,162 points, marking a nearly 3% rise, with the Nifty 50 mirroring this upward trend.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that Indian stock market sentiment has improved as the Nifty 50 index closed above its previous days close.
Speaking on the outlook of Indian stock market, Bagadia said, “ The key benchmark index is heading towards the immediate target of 25,700, while on the lower side, it has made a strong base in 25,300 to 35,250 levels. 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: NDR Auto Components, Indraprastha Medical Corporation, LT Foods, Redington, and SML Isuzu.
1] NDR Auto Components: Buy at ₹1078.55, target ₹1150, stop loss ₹1035;
2] Indraprastha Medical Corporation: Buy at ₹449.35, target ₹477, stop loss ₹432;
3] LT Foods: Buy at ₹483.25, target ₹515, stop loss ₹465;
4] Redington: Buy at ₹322.05, target ₹345, stop loss ₹310;
5] SML Isuzu: Buy at ₹2034.1, target ₹2160, stop loss ₹1965.
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.
