Breakout stocks to buy or sell: The ended on a higher note on Monday, December 22, supported by a recovery in the rupee and encouraging global signals.
Marking a second straight session of gains, the advanced 638 points, or 0.75%, to settle at 85,567.48, while the Nifty 50 rose 206 points, or 0.79%, to finish at 26,172.40. Broader markets also outperformed, with the BSE Midcap index rising 0.86% and the Smallcap index surging 1.12%.
Infosys, Bharti Airtel, and ICICI Bank were among the gainers, while only three stocks—SBI, Kotak Mahindra Bank, and Larsen & Toubro—closed in negative territory on the Sensex.
Sumeet Bagadia’s outlook on Indian stock market
Sumeet Bagadia, Executive Director at Choice Broking, believes that the Indian stock market sentiment has turned strong as the index is sustaining above 26,000.
“The key benchmark index is heading towards 26,450 levels. So, one should maintain a stock-specific approach and look at those stocks that are looking strong on the technical chart,” said Bagadia.
Breakout stocks to buy today
Sumeet Bagadia recommends five shares to buy today – Varun Beverages, Triveni Engineering and Industries, BEML, Chambal Fertilisers and Chemicals, and Titagarh Rail Systems.
1] Varun Beverages: Buy at ₹485.65, target ₹515, stop loss ₹470;
2] Triveni Engineering and Industries: Buy at ₹389.55, target ₹415, stop loss ₹374;
3] BEML: Buy at ₹1795.80, target ₹1930, stop loss ₹1725;
4] Chambal Fertilisers and Chemicals: Buy at ₹465.95, target ₹505, stop loss ₹445;
5] Titagarh Rail Systems: Buy at ₹816.50, target ₹890, stop loss ₹777.
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.