Breakout stocks buy or sell: Indian stock markets closed in the red on Tuesday, as both the Sensex and Nifty 50 extended their losing streak to a third straight session.
By the close of trading, the BSE Sensex had dropped 636.24 points, or 0.78%, settling at 80,737.51. Meanwhile, the NSE Nifty 50 slipped 174.10 points, or 0.70%, to end at 24,542.50.
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 sustaining above 24,500.
Speaking on the outlook of Indian stock market, Bagadia said, “ On breaching this support the market bias may turn weak and the key benchmark index may try to test 24,150 to 24,200 levels. On the upper side, the 50-stock index is facing hurdle at 24,800. 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 shares to buy today — Deepak Frtlsrs and Ptrchmcls Corp, Authum Investment & Infrastructure, GE Vernova T&D India, Signatureglobal (India), and India Cements.
1] Deepak Frtlsrs and Ptrchmcls Corp: Buy at ₹1540.10, target ₹1663, stop loss ₹1486;
2] Authum Investment & Infrastructure: Buy at ₹2473.6, target ₹2647, stop loss ₹2387;
3] GE Vernova T&D India: Buy at ₹2340.10, target ₹2504, stop loss ₹2258;
4] Signatureglobal (India): Buy at ₹1258.7, target ₹1360, stop loss ₹1214;
5] India Cements: Buy at ₹351.7, target ₹380, stop loss ₹339.
Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.
