Breakout stocks to buy or sell: Indian benchmark indices — and Nifty — regained momentum on Monday, October 27, after pausing their rally for a day. Optimism around a potential US-China trade agreement and expectations of an interest rate cut by the US Federal Reserve lifted market sentiment.
The ended the session 567 points, or 0.67 per cent, higher at 84,778.84, while the Nifty 50 rose 171 points, or 0.66 per cent, to close at 25,966.05. With this, both indices have advanced in seven of the past eight trading sessions.
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 regained the psychological 26,000 levels.
Speaking on the outlook of the Indian stock market, Bagadia said, “The index is set to touch the immediate hurdle placed at 26,500. On breaking above this resistance on a decisive level, we can expect the key benchmark index to touch 27,300 soon.”
Stocks to buy today
Sumeet Bagadia recommends five breakout stocks to buy today: Bharat Seats, Zota Health Care, Precision Wires India, Cartrade Tech, and Parag Milk Foods.
1] Bharat Seats: Buy at ₹225, target ₹240, stop loss ₹217;
2] Zota Health Care: Buy at ₹1571, target ₹1690, stop loss ₹1520;
3] Precision Wires India: Buy at ₹210.7, target ₹225, stop loss ₹203;
4] Cartrade Tech: Buy at ₹2665, target ₹2865, stop loss ₹2570;
5] Parag Milk Foods: Buy at ₹317, target ₹340, stop loss ₹305.
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.