Breakout stocks to buy or sell: The Indian stock markets experienced significant volatility due to weak global cues and escalating trade tensions, on Wednesday.
During the latter half of the trading session, robust gains in banking stocks bolstered the market’s recovery. The Nifty 50 rebounded by 141 points (0.63%) from its intraday low, concluding the session at 22,470 points, a slight decline of 0.12% from the previous close. Similarly, the Sensex trimmed its losses, ending 0.10% lower at 74,030 points, having recovered 431 points (0.58%) from the day’s low.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that the- overall the Indian stock market sentiment is cautiously positive as the Nifty 50 index once again bounced back after coming close to 23,300 levels.
Speaking on the outlook of Indian stock market, Bagadia said, “So, one can assume the frontline index is taking immediate support in 23,300 to 23,250 zone. On breaking above 23,550 is now important to establish a positive conviction, however, Nifty needs to close above 23,650 for further uptrend. Therefore, 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.”
Sumeet Bagadia recommended buying these five breakout shares to buy today – Krishna Institute Of Medical Sciencs, Camlin Fine Sciences, GRM Overseas, PTC India, and NLC India.
Stocks to buy today
1] Krishna Institute Of Medical Sciencs: Buy at ₹549.7, target ₹588, stop loss ₹530;
2] Camlin Fine Sciences: Buy at ₹171.75, target ₹184, stop loss ₹166;
3] GRM Overseas: Buy at ₹270.5, target ₹289, stop loss ₹261;
4] PTC India: Buy at ₹155.08, target ₹166, stop loss ₹150;
5] NLC India: Buy at ₹229.31, target ₹245, stop loss ₹221.
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.
