Breakout stocks buy or sell: The Indian stock market ended with slight gains on Monday, September 8, retreating from the day’s highs as profit booking set in, with investors maintaining a ‘sell-on-rise’ strategy amid ongoing tariff-related uncertainties and continuous foreign capital outflows.
The Sensex climbed 461 points, or 0.60 per cent, to hit an intraday high of 81,171.38, while the Nifty 50 also gained 0.60 per cent to reach 24,885.50.
However, both indices gave up most of their gains by the close. In the end, the Sensex added 77 points, or 0.09 per cent, to settle at 80,787.30, and the Nifty 50 inched up 32 points, or 0.13 per cent, to close at 24,773.15.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that Indian stock market sentiment is positive despite ending flat on Monday.
Speaking on the outlook of Indian stock market, Bagadia said, “The Nifty 50 index is facing hurdle at 24,900 and afresh bull trend can be assumed on the breakage of Technical breakout above this resistance. 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: Ramco Industries, Parag Milk Foods, NESCO, Pearl Global Industries and Swaraj Engines.
1] Ramco Industries: Buy at ₹339.6, target ₹365, stop loss ₹327;
2] Parag Milk Foods: Buy at ₹268, target ₹285, stop loss ₹257;
3] NESCO: Buy at ₹1530, target ₹1650, stop loss ₹1475;
4] Pearl Global Industries: Buy at ₹1291, target ₹1385, stop loss ₹1245;
5] Swaraj Engines: Buy at ₹4408, target ₹4750, stop loss ₹4265.
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.
