Breakout stocks buy or sell: The Indian stock market saw robust buying across sectors, driven by optimism surrounding a possible GST slab rationalisation.
The Sensex ended the session 410 points higher, or 0.51 per cent, at 80,567.71, while the Nifty 50 gained 135 points, or 0.55 per cent, to close at 24,715.05. The BSE Midcap index advanced 0.63 per cent, and the Smallcap index climbed 0.90 per cent.
On Wednesday late evening, the Centre and states on Wednesday approved the most significant reform of the Goods and Services Tax (GST) since its rollout eight years ago. The GST Council, the apex body for the tax, unanimously cleared major rate reductions on numerous essential items, making most goods and certain services more affordable.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that Indian stock market sentiment has improved as the Nifty 50 index ended close to its 50-DEMA resistance placed at 24,800.
Speaking on the outlook of Indian stock market, Bagadia said, “On breaking above this hurdle is widely expected after the positive outcome from the GST Council meeting yesterday. 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: TD Power Systems, Pondy Oxides and Chemicals, Yatharth Hospital & Trauma Cre Srvcs, Rategain Travel Technologies, and Goldiam International.
1] TD Power Systems: Buy at ₹554, target ₹595, stop loss ₹535;
2] Pondy Oxides and Chemicals: Buy at ₹1162, target ₹1250, stop loss ₹1120;
3] Yatharth Hospital & Trauma Cre Srvcs: Buy at ₹749, target ₹805, stop loss ₹725;
4] Rategain Travel Technologies: Buy at ₹590, target ₹635, stop loss ₹565;
5] Goldiam International: Buy at ₹402, target ₹430, stop loss ₹386.
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.
