Breakout stocks to buy or sell: The Indian stock market experienced a relief rally on Tuesday, April 8, mirroring a global rebound following recent declines. However, investor sentiment remains cautious due to ongoing uncertainty surrounding the trade war’s direction.
Breaking a three-day losing streak, the Sensex surged by 1,089 points (1.49%) to close at 74,227. Meanwhile, the Nifty 50 gained 374 points (1.69%) to finish at 22,536.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that the Indian stock market sentiment has eased after strong pullback from 21,750 levels.
Speaking on the outlook of the Indian stock market today, Bagadia said, “The Nifty 50 index has closed above 22,500 levels and the index needs to break above 22,800 on a closing basis to further improve the market bias. 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.”
Breakout stocks to buy or sell: Sumeet Bagadia recommends five shares to buy today — Paradeep Phosphates, Cholamandalam Financial Holdings, Valiant Organics, BSE, and Lloyds Metals And Energy.
Stocks to buy today
1] Paradeep Phosphates: Buy at ₹125.2, target ₹134, stop loss ₹120.5;
2] Cholamandalam Financial Holdings: Buy at ₹1692.55, target ₹1820, stop loss ₹758;
3]Valiant Organics: Buy at ₹365.6, target ₹390, stop loss ₹350;
4] BSE: Buy at ₹5538.2, target ₹5950, stop loss ₹5350;
5] Lloyds Metals And Energy: Buy at ₹1194.95, target ₹1285, stop loss ₹1155.
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.
