Breakout stocks buy or sell: The Indian stock market indices—the Sensex and Nifty 50—ended higher on Monday, supported by gains in key stocks like HDFC Bank, Mahindra & Mahindra, and ITC.
The Sensex rose by 295 points (0.37%) to close at 80,796.84, while the Nifty 50 advanced 114 points (0.47%) to finish at 24,461.15. Mid- and small-cap stocks outperformed significantly, with the BSE Midcap index surging 1.45% and the Smallcap index increasing by 1.23%.
Sumeet Bagadia, Executive Director at Choice Broking, believes that the Indian stock market sentiment is cautiously positive and the Nifty 50 index is poised to touch 24,800 soon.
Speaking on the outlook of Indian stock market, Bagadia said, “On breaking above 24,800, the key benchmark index may soon touch 25,200. So, one should maintain stock-specific approach and look at those stocks that are looking strong on the technical chart. Breakout stocks can be a good option for intraday trading.”
Breakout stocks to buy or sell: Sumeet Bagadia recommends five shares to buy today — Windsor Machines, Gallantt Ispat, Vesuvius India, Azad Engineering, and Bharat Dynamics.
1] Windsor Machines: Buy at ₹345, target ₹370, stop loss ₹333;
2] Gallantt Ispat: Buy at ₹465.8, target ₹502, stop loss ₹450;
3] Vesuvius India: Buy at ₹4889, target ₹5200, stop loss ₹4720;
4] Azad Engineering: Buy at ₹1635, target ₹1750, stop loss ₹1580;
5] Bharat Dynamics: Buy at ₹1563.9, target ₹1680, stop loss ₹1510.
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.
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