Aniket PujariBreakout stocks to buy or sell: Indian indices – Sensex and Nifty 50 – extended their gains for a second straight session on Friday, December 12, buoyed by positive global sentiment following a US Federal Reserve rate cut.
The Sensex climbed 450 points, or 0.53%, to close at 85,267.66, while the Nifty 50 advanced 148 points, or 0.57%, to 26,046.95. Broader markets outperformed, with the BSE Midcap and Smallcap indices rising 1.14% and 0.65%, respectively.
Total market capitalisation of BSE-listed companies increased to over ₹470 lakh crore from ₹466.6 lakh crore in the previous session, adding more than ₹3 lakh crore to investor wealth in a single day.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that the Indian stock market sentiment has improved as the Nifty 50 index has sustained above the 26,000 level after breaking above this psychological threshold.
“The 50-stock index is all set to touch 26,300 if it opens above 26,000 levels in Monday. 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,” said Bagadia.
Stocks to buy today
Sumeet Bagadia recommends five shares to buy today – Indo Borax and Chemicals, Atlanta Electricals, Zota Health Care, CCL Products (India), and Senores Pharmaceuticals.
1] Indo Borax and Chemicals: Buy at ₹274, target ₹295, stop loss ₹264;
2] Atlanta Electricals: Buy at ₹925, target ₹990, stop loss ₹890;
3] Zota Health Care: Buy at ₹1670, target ₹1800, stop loss ₹1600;
4] CCL Products (India): Buy at ₹1025, target ₹1100, stop loss ₹988;
5] Senores Pharmaceuticals: Buy at ₹786, target ₹850, stop loss ₹760.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
