Breakout stocks buy or sell: Indian stock market benchmarks, the Sensex and Nifty 50, declined for the second straight session on Thursday, July 3, amid mixed global signals. The Sensex dropped 170 points, or 0.20%, to settle at 83,239.47, while the Nifty 50 closed 48 points, or 0.19%, lower at 25,405.30.
In the broader market, the BSE Midcap index edged down 0.06%, whereas the Smallcap index defied the downward trend with a gain of 0.47%.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that Indian stock market sentiment is cautious to positive as the Nifty 50 index is still above the crucial support of 25,300 to 25,250.
Speaking on the outlook of Indian stock market, Bagadia said, “ The key benchmark index is facing hurdle at 25,550 to 25,600. On breaking above this hurdle in a closing basis, we can expect the 50-stock index to touch 26,000 soon. 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: Hubtown, Man Industries (India), OCCL, Kriti Industries (India), and Latent View Analytics.
1] Hubtown: Buy at ₹273.90, target ₹295, stop loss ₹264;
2] Man Industries (India): Buy at ₹439.50, target ₹475, stop loss ₹424;
3] OCCL: Buy at ₹126.7, target ₹137, stop loss ₹122;
4] Kriti Industries (India): Buy at ₹163, target ₹176, stop loss ₹157;
5] Latent View Analytics: Buy at ₹446.7, target ₹482, stop loss ₹430.
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.
