Breakout stocks to buy or sell: Domestic equity indices, Sensex and Nifty 50, declined mainly due to weak global sentiment and fresh worries about a potential trade war.
The Nifty 50 closed the week at 22,904.40, while the Sensex ended near its weekly low at 75,364.69. Over the week, the BSE Sensex dropped by 2,050.23 points or 2.64%, and the NSE Nifty slipped by 614.8 points or 2.61%.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that the positive sentiment of the Indian stock market is still intact despite consolidation witnesses around higher levels.
Speaking on the outlook of the Indian stock market today, Bagadia said, “The Nifty 50 index is facing resistance at 23,800 but the 50-stock index has made strong base at 23,500. The frontline index may kickstart another upside movement after coming close to 23,500 support for the next targets of 24,200 and 24,700 respectively. So, one should look at those stocks that are looking strong on the technical chart. One can look at breakout stocks for intraday trading. Looking at breakout stocks can be a good option.”
Breakout stocks to buy or sell: Sumeet Bagadia recommends five shares to buy today — Gujarat Apollo Industries, NACL Industries, Synergy Green Industries, Star Cement, and Max Healthcare Institute.
Stocks to buy today
1] Gujarat Apollo Industries: Buy at ₹372.1, target ₹395, stop loss ₹358;
2] NACL Industries: Buy at ₹134.89, target ₹144, stop loss ₹130;
3] Synergy Green Industries: Buy at ₹419, target ₹445, stop loss ₹405;
4] Star Cement: Buy at ₹219.14, target ₹233, stop loss ₹211;
5] Max Healthcare Institute: Buy at ₹1137.65, target ₹1212, stop loss ₹1100.
Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.
