Breakout stocks to buy or sell: Following the uncertainty surrounding global trade developments, the witnessed selective profit-booking and finished flat on Thursday. The Nifty 50 index added 22 points and closed at 25,891. The BSE Sensex gained 130 points and closed at 84,556, while the Bank Nifty index finished 70 points higher at 58,078. Among sectors, the IT index outperformed on the previous session, rallying over 2%. This could become possible due to US President Donald Trump’s more conciliatory tone on the H-1 B visas.
Stock market today
Sumeet Bagadia, Executive Director at Choice Broking, believes the Indian stock market sentiment is cautiously optimistic despite profit-booking on Thursday. The Choice Broking expert stated that the 50-stock index is currently in the range of 25,900 to 26,300. A bullish or a bearish trend can be assumed on the breakage of either side of this range.
Speaking on the outlook of the Indian , Sumeet Bagadia said, “The Indian stock market sentiment is cautiously positive despite strong profit-booking on Thursday. The Nifty 50 index finished below 26,000 after a profit-booking trigger around the 26,300 levels. The 50-stock index has crucial support placed at 25,750. Therefore, one should adopt a stock-specific approach and examine those stocks that appear strong based on their technical chart patterns. One can look at breakout stocks as well.”
Sumeet Bagadia’s breakout stocks to buy or sell
Regarding for today, Sumeet Bagadia recommended the following five breakout stocks: PGIL, SCI, Laurus Labs, Garuda Construction, and Prudent.
1] PGIL: Buy at ₹1402, Target ₹1510, Stop Loss ₹1360;
2] SCI: Buy at ₹250, Target ₹267, Stop Loss ₹241;
3] Laurus Labs: Buy at ₹934, Target ₹1000, Stop Loss ₹900;
4] Garuda Construction: Buy at ₹212, Target ₹230, Stop Loss ₹205; and
5] Prudent: Buy at ₹2783, Target ₹2980, Stop Loss ₹2695.
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.