Breakout stocks to buy or sell: Recording gains for the third straight session, India’s benchmark indices — the and Nifty 50 — finished higher on Monday, October 6, driven by strong performances from key banking and IT majors including HDFC Bank, Infosys, and TCS.
The advanced 583 points, or 0.72 per cent, to settle at 81,790.12, while the Nifty 50 climbed 183 points, or 0.74 per cent, to close at 25,077.65.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that Indian stock market sentiment has improved as the index has decisively broken above the 50-DEMA resistance placed at 24,900.
Speaking on the outlook of , Bagadia said, “ The key benchmark index has regained 25000 levels and it is facing resistance at 25,250 to 25,300 levels. After a decisive breakout above this hurdle is important for a fresh upside bias on Dalal Street. So, one should maintain stock-specific approach and look at those stocks that are looking strong on the technical chart.”
Stocks to buy today
Sumeet Bagadia recommends five breakout stocks to buy today: NDR Auto Components, Anup Engineering, Krishna Institute Of Medical Sciencs, Yatharth Hospital & Trauma Cre Srvcs, and Ram Ratna Wires.
1] NDR Auto Components: Buy at ₹1060, target ₹1140, stop loss ₹1020;
2] Anup Engineering: Buy at ₹2492, target ₹2675, stop loss ₹2400;
3] Krishna Institute Of Medical Sciencs: Buy at ₹722, target ₹777, stop loss ₹700;
4] Yatharth Hospital & Trauma Cre Srvcs: Buy at ₹781, target ₹840, stop loss ₹755;
5] Prostarm Info Systems: Buy at ₹642, target ₹690, stop loss ₹620.
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.