Breakout stocks buy or sell: After the Reserve Bank of India’s policy announcement, the Sensex slipped by 166.26 points, closing at 80,543.99, while the Nifty fell 75.35 points to settle at 24,574.20. Investor sentiment was further weighed down by former U.S. President Donald Trump’s renewed warning of increased tariffs on Indian exports.
Amid the broader market decline, both mid and small-cap stocks came under pressure, with the NSE Midcap index dropping 0.8 percent and the Smallcap index declining by more than 1 percent.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that Indian stock market sentiment is cautious as the Nifty 50 index has closed near it’s support placed at 24,500.
Speaking on the outlook of Indian stock market, Bagadia said, “ On the upper side, the 50-stock index is facing resistance at 24,950. Bullish or bearish trend can be assumed on the breakage of either side of the range. So, one should maintain stock-specific approach and look at those stocks that are looking strong on the technical chart.”
Stocks to buy today
Sumeet Bagadia recommends five breakout stocks to buy today: Paradeep Phosphates, Cupid, Zuari Agro Chemicals, Global Health, and Metropolis Healthcare.
1] Paradeep Phosphates: Buy at ₹23.57, target ₹250, stop loss ₹223;
2] Cupid: Buy at ₹167.8, target ₹180, stop loss ₹161;
3] Zuari Agro Chemicals: Buy at ₹363, target ₹390, stop loss ₹350;
4] Global Health (Medanta): Buy at ₹1338, target ₹1432, stop loss ₹1290;
5] Metropolis Healthcare: Buy at ₹2055.7, target ₹2200, stop loss ₹1983.
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.
