Breakout stocks to buy or sell: The benchmark indices — and Nifty 50 — ended their three-day losing streak, supported by gains in select heavyweights such as Infosys and Reliance Industries, amid upbeat global sentiment, on Monday, November 10.
The advanced 319 points (0.38%) to close at 83,535.35, while the Nifty 50 rose 82 points (0.32%) to settle at 25,574.35. Among broader markets, the BSE Midcap index outperformed with a 0.62% gain, whereas the Smallcap index slipped 0.28%.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that the Indian stock market sentiment has improved as the index bounced back after taking support at 25,320.
Speaking on the outlook of the Indian stock market, Bagadia said, “ The key benchmark index has touched 25,650 but for further improvement in Dalal Street sentiment, the index would need to break above 25,750 on a closing basis. 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.”
Stocks to buy today
Breakout stocks to buy or sell: Sumeet Bagadia recommends five breakout stocks to buy today: HBL Engineering, J B Chemicals and Pharmaceuticals, AIA Engineering, Aavas Financiers, and Emcure Pharmaceuticals.
1] HBL Engineering: Buy at ₹1087, target ₹1164, stop loss ₹1049;
2] J B Chemicals and Pharmaceuticals: Buy at ₹1813, target ₹1940, stop loss ₹1750;
3] AIA Engineering: Buy at ₹3444, target ₹3680, stop loss ₹3326;
4] Aavas Financiers: Buy at ₹1648, target ₹1764, stop loss ₹1590;
5] Emcure Pharmaceuticals: Buy at ₹1422, target ₹1522, stop loss ₹1372.
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.