Aniket PujariBreakout stocks to buy or sell: The Indian stock market rebounded following last week’s volatility, on Monday. Financials, pharmaceuticals, and automotive sectors posted significant gains, leading to an overall market uplift.
Amidst the recent market trends, the Nifty 50 index rose by 0.50 per cent to close at 22,508 points, halting a two-day decline. Similarly, the Sensex increased by 0.46 per cent, ending at 74,169 points, breaking a five-day losing streak.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that the overall the Indian stock market sentiment is sideways as the Nifty 50 index is trading in a tight 22,300 to 22,600 range for nearly two weeks.
Speaking on the outlook of Indian stock market, Bagadia said, “The frontline index is in a broad range of 22,000 to to 22,800. Bullish or bearish trend can be assumed in the breakage of either side of the range. So, one should maintain stock-specific approach and look at those stocks that are looking strong. One can look at breakout stocks for intraday trading as well.”
Sumeet Bagadia recommended buying these five breakout shares to buy today – E I D-Parry (India), Kamat Hotels (India), Krishna Institute Of Medical Sciencs, UNO Minda, and Royal Orchid Hotels.
Stocks to buy today
1] E I D-Parry (India): Buy at ₹720.60, target ₹771, stop loss ₹695;
2] Kamat Hotels (India): Buy at ₹338.10, target ₹362, stop loss ₹326;
3] Krishna Institute Of Medical Sciencs: Buy at ₹595.60, target ₹637, stop loss ₹575;
4] UNO Minda: Buy at ₹935.5, target ₹1001, stop loss ₹902;
5] Royal Orchid Hotels: Buy at ₹408.05, target ₹437, stop loss ₹394.
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.
