Breakout stocks to buy or sell: Benchmark indices — the Sensex and Nifty 50 — managed to close with modest gains amid mixed global signals, on Monday. The Sensex inched up 40 points to finish at 83,978.49, while the Nifty 50 advanced 41 points, or 0.16 per cent, to settle at 25,763.35. In contrast, broader markets outperformed, with the BSE Midcap index climbing 0.62 per cent and the Smallcap index rising 0.71 per cent.
The market is seeing stock-specific movements during the ongoing Q2 earnings season. So far, the September quarter results of India Inc. have mostly met expectations, leading to a range-bound market.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that the Indian stock market sentiment has improved as the Nifty 50 index bounced back from 25,650 and came close to 25,800.
Speaking on the outlook of the Indian stock market, Bagadia said, “ The key benchmark index may soon touch 26,100. However, a decisive breakout above 26,100 would be crucial for a fresh upward move on Dalal Street.”
Stocks to buy today
Sumeet Bagadia recommends five breakout stocks to buy today: PDS, Zota Health Care, Remsons Industries, Acutaas Chemicals, and Vijaya Diagnostic Centre.
1] PDS: Buy at ₹378, target ₹410, stop loss ₹365;
2] Zota Health Care: Buy at ₹1575, target ₹1700, stop loss ₹1520;
3] Remsons Industries: Buy at ₹150.25, target ₹162, stop loss ₹144;
4] Acutaas Chemicals: Buy at ₹1810, target ₹1940, stop loss ₹1745;
5] Vijaya Diagnostic Centre: Buy at ₹1020, target ₹1100, stop loss ₹980.
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.
