Breakout stocks to buy or sell: Indian frontline indices closed Tuesday’s trading session, March 4, in the red. The Nifty 50 dipped 0.17%, marking its 10th consecutive loss but managed to stay above the critical 22,000 level, settling at 22,082 points. Meanwhile, the Sensex slipped 0.13%, failing to sustain the 73,000 mark and ending at 72,962 points.
The Nifty Midcap 100 index ended the session with a slight increase of 0.05%, closing at 48,000, whereas the Nifty Smallcap 100 index posted a more significant rise of 0.69%, reaching 14,762.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that the overall Indian stock market sentiment is bearish as Nifty 50 failed to regain the previous crucial support placed at 22,200 level.
Speaking on the outlook of Indian stock market, Bagadia said, “In fact, it opened gap down and slipped below 22,000 mark. However, the frontline index rebounded from the intraday low and finally ended lower for the tenth straight session. The benchmark index finished below 22,200, which signals weak sentiments and the index may try to touch 22,800 and 22,300 levels in the near term. So, it’s better to look at those stocks that are looking strong on the technical chart.”
Sumeet Bagadia recommended buying these five breakout shares to buy today – TCPL Packaging, Astrazeneca Pharma India, AMI Organics, Blue Star and GSK plc.
Stocks to buy today
1] TCPL Packaging: Buy at ₹4413.35, target ₹4700, stop loss ₹4250;
2] Astrazeneca Pharma India: Buy at ₹7306.25, target ₹7800, stop loss ₹7050;
3] AMI Organics: Buy at ₹2294.2, target ₹2450, stop loss ₹2200;
4] Blue Star: Buy at ₹2100.65, target ₹2250, stop loss ₹2020;
5] GSK plc: Buy at ₹2647.55, target ₹2828, stop loss ₹2550.
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.
