Breakout stocks to buy or sell: Domestic equity benchmarks Sensex and Nifty 50 experienced heightened volatility last week and declined for the second week due to global economic uncertainty triggered by Donald Trump’s tariff announcements. Yet, the market pared most of its weekly losses after the 90-day pause on hefty “retaliatory” tariffs led to a rebound.
The blue-chip NSE Nifty 50 index rose 1.92 per cent to close at 22,828.55 in the last session, while the 30-share BSE Sensex gained 1.77 per cent to 75,157.26. On the weekly front, the BSE benchmark gauge declined 207.43 points or 0.27 per cent. The Nifty dipped 75.9 points or 0.33 per cent.
Investors’ wealth has eroded by ₹11.30 lakh crore since early this month, as the stock market experienced turbulence initially due to Trump’s unveiling of the worldwide tariff plan. Since April 2, the Sensex has shed 1,460.18 points, or 1.90 per cent.
Sumeet Bagadia, Executive Director at Choice Broking, said, “The Indian stock market bias has turned positive as the Nifty 50 index has closed above 22,800. However, a bull trend can only be assumed when the frontline index breaks above 23,000. Today, the Nifty has immediate support at 22,550, whereas it has crucial support at 22,300.”
“On breaching below the crucial support may trigger fresh selling pressure, while a breakout above 23,000 would trigger a fresh uptrend for an immediate target of 23,400. So, one should maintain a stock-specific approach and look at those stocks that look 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: Bharti Hexacom Ltd, Poonawalla Fincorp Ltd, Global Health Ltd, Cholamandalam Financial Holdings Ltd, and Gujarat Gas Ltd.
1.Bharti Hexacom Ltd: Buy at ₹1,504, target price ₹1,625, stoploss ₹1,440.
2.Poonawalla Fincorp Ltd: Buy at ₹366.3, target price ₹400, stoploss ₹350.
3.Global Health Ltd: Buy at ₹1,269.95, target price ₹1,370, stoploss ₹1,210.
4.Cholamandalam Financial Holdings Ltd: Buy at ₹1,780, target price ₹2,000, stoploss ₹1,680.
5.Gujarat Gas: Buy at ₹425, target price ₹460, stoploss ₹400.
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, consider individual risk tolerance, and conduct thorough research before making investment decisions, as market conditions can change rapidly, and individual circumstances may vary.
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