Breakout stocks buy or sell: Indian equities ended Friday with notable gains, fueled by the Reserve Bank of India’s twin policy moves—a 50 basis point cut in the repo rate and a 100 basis point reduction in the cash reserve ratio (CRR). These measures boosted optimism for increased credit uptake and a revival in domestic economic growth.
Both the Nifty 50 and Sensex posted strong finishes, each rising over 1%. The Nifty 50 gained 252 points, or 1.02%, to close at 25,003, while the Sensex rose by 443 points, or 1%, ending the session at 82,188.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that Indian stock market sentiment has turned positive as the Nifty 50 index has breached above 25,000 decisively.
Speaking on the outlook of Indian stock market, Bagadia said, “ Once the benchmark index breaks above Friday’s high decisively, we can expect the 50-stock index to touch 25,600 and 26,000 respectively. 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 — Go Digit General Insurance, Godrej Properties, Aditya Birla Real Estate, Gujarat Mineral Development Corpn, and UTI Asset Management Company.
1] Go Digit General Insurance: Buy at ₹351.25, target ₹385, stop loss ₹334;
2] Godrej Properties: Buy at ₹2467, target ₹2720, stop loss ₹2340;
3] Aditya Birla Real Estate: Buy at ₹2355.80, target ₹2600, stop loss ₹2240;
4] Gujarat Mineral Development Corpn: Buy at ₹401.05, target ₹440, stop loss ₹380;
5] UTI Asset Management Company: Buy at ₹1223.90, target ₹1360, stop loss ₹1160.
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.
