Aniket PujariBreakout stocks to buy or sell: Indian stock markets extended their gains for the second consecutive session, bolstered by positive global cues, on Tuesday. The BSE Sensex surged by 1,131 points (1.53%) to close at 75,301.26, while the Nifty 50 advanced 326 points (1.45%), ending at 22,834.30.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that the Indian stock market bias has turned positive as the Nifty 50 index finally breached the hurdle placed at 22,650.
Speaking on the outlook of Indian stock market, Bagadia said, “The frontline index is now heading for 23,000 target in near term. So, one should maintain stock-specific approach and look at those stocks that are looking strong on the technical chart. A good number of stocks have given a technical breakout and one can look at those stocks also.”
Sumeet Bagadia recommended buying these seven breakout shares to buy today – Aarti Pharmalabs, E I D-Parry (India), Vimta Labs, Mps, Jindal Drilling and Industries, Blue Star, and Cartrade Tech.
Stocks to buy today
1] Aarti Pharmalabs: Buy at ₹774.3, target ₹830, stop loss ₹725;
2] E I D-Parry (India): Buy at ₹720.60, target ₹771, stop loss ₹695;
3] Vimta Labs: Buy at ₹1109.8, target ₹1190, stop loss ₹1070;
4] Mps: Buy at ₹2830.55, target ₹3010, stop loss ₹2727;
5] Jindal Drilling and Industries: Buy at ₹947, target ₹1010, stop loss ₹910.
6] Blue Star: Buy at ₹2156.85, target ₹2280, stop loss ₹2080.
7] Cartrade Tech: Buy at ₹1694.7, target ₹1810, stop loss ₹1630.
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.
