Breakout stocks to buy or sell: The benchmark indices — BSE and Nifty 50 — fell for the sixth consecutive session on Friday, September 26, as renewed US tariffs on pharmaceuticals and continued selling by foreign portfolio investors (FPIs) dampened market sentiment.
The ended the day at 80,426.46, down 733.22 points, or 0.90 per cent, while the Nifty 50 slipped 236.15 points, or 0.95 per cent, to close at 24,654.70.
For the week, the declined 2.66 per cent, and the Nifty recorded a 2.65 per cent drop.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that Indian stock market sentiment has turned weak as the Nifty 50 index slipped below the crucial 24,800 support.
Speaking on the outlook of Indian stock market, Bagadia said, “The index has immediate support at 24,550 to 24,500 levels, while crucial support is placed at 24,300 to 24,250. The key benchmark index may try to test 24,400 to 24,350 in the near term. So, one should look at those stocks that look strong on the technical chart pattern.”
Stocks to buy today
Sumeet Bagadia recommends five breakout stocks to buy today: Hemisphere Properties India, Gandhi Special Tubes, E2E Networks, Dr. Agarwal’s Health Care, and Lumax AutoTechnologies.
1] Hemisphere Properties India: Buy at ₹168, target ₹180, stop loss ₹162;
2] Gandhi Special Tubes: Buy at ₹927, target ₹1000, stop loss ₹895;
3] E2E Networks: Buy at ₹3450, target ₹3700, stop loss ₹3344;
4] Dr. Agarwal’s Health Care: Buy at ₹488, target ₹525, stop loss ₹470;
5] Lumax AutoTechnologies: Buy at ₹1298, target ₹1400, stop loss ₹1250.
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.