Breakout stocks to buy or sell: Shree Renuka Sugars to Rolex Rings — Sumeet Bagadia recommends three stocks to buy today

  • Breakout stocks to buy or sell: Sumeet Bagadia recommends three stocks to buy today — SeQuent Scientific, Rolex Rings, DentalKart or Vasa Denticity, Shree Renuka Sugars, and LMW

Asit Manohar
Updated30 Sep 2024, 07:35 AM IST
Stock market today: Sumeet Bagadia believes the overall trend of the Indian stock market is bullish, and the Nifty 50 index is poised to touch 26,900 despite the 50-stock index closing red on Friday.
Stock market today: Sumeet Bagadia believes the overall trend of the Indian stock market is bullish, and the Nifty 50 index is poised to touch 26,900 despite the 50-stock index closing red on Friday.(MINT)

Breakout stocks to buy or sell: Despite global market sentiments, the Indian stock market snapped a six-session winning streak on Friday. The Nifty 50 index finished 37 points lower at 26,178, the BSE Sensex shed 264 points and closed at 85,571, and the Nifty Bank index ended 541 points lower at 53,834. Cash market volumes on the NSE were up 36.2% compared to the previous day, partly due to Nifty rebalancing volumes. Broad market indices ended marginally positive even as the advance-decline ratio rose to 0.99:1.

Sumeet Bagadia's stock recommendations today

Sumeet Bagadia, Executive Director at Choice Broking, believes the overall trend of the Indian stock market is bullish, and the Nifty 50 index is poised to touch 26,900 despite the 50-stock index closing red on Friday. The Choice Broking expert maintained that investors should keep a buy-on-dips strategy until the frontline index exceeds the 26,000 mark. He said crucial support for the Nifty 50 index is placed at 25,800.

"The Nifty 50 50 index is heading towards the 26,900 mark as the Indian stock market has managed to maintain the strong bias despite profit-booking on Friday last week. The 50-stock index has immediate support placed at 25,900, and one is advised to maintain buy-on-dips until the frontline 50-stock index is above 26,000," said Sumeet Bagadia.

Bagadia advised investors to maintain a 'buy-on-dips' strategy with a particular focus on breakout stocks, suggesting these five shares to buy today: SeQuent Scientific, Rolex Rings, DentalKart or Vasa Denticity, Shree Renuka Sugars, and LMW.

Shares to buy today

1] SeQuent Scientific: Buy at 217, target 230, stop loss 210;

2] Rolex Rings: Buy at 2650, target 2800, stop loss 2560;

3] DentalKart: Buy at 636.50, target 675, stop loss 615;

4] Shree Renuka Sugars: Buy at 53, target 56.50, stop loss 51.50; and

5] LMW: Buy at 17916.85, target 19,200, stop loss 17,300.

Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.

Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.

MoreLess
First Published:30 Sep 2024, 07:35 AM IST
Business NewsMarketsStock MarketsBreakout stocks to buy or sell: Shree Renuka Sugars to Rolex Rings — Sumeet Bagadia recommends three stocks to buy today

Most Active Stocks

Tata Steel share price

149.70
07:18 PM | 1 NOV 2024
1.05 (0.71%)

Indian Oil Corporation share price

145.00
07:19 PM | 1 NOV 2024
2.3 (1.61%)

Tata Power share price

445.20
07:19 PM | 1 NOV 2024
5.15 (1.17%)

Bandhan Bank share price

183.65
07:10 PM | 1 NOV 2024
1.4 (0.77%)
More Active Stocks

Market Snapshot

  • Top Gainers
  • Top Losers
  • 52 Week High

Rainbow Childrens Medicare share price

1,545.00
06:59 PM | 1 NOV 2024
-67.25 (-4.17%)

ICICI Securities share price

833.45
06:59 PM | 1 NOV 2024
-32.85 (-3.79%)

Vijaya Diagnostic Centre share price

966.70
06:59 PM | 1 NOV 2024
-30.35 (-3.04%)

Narayana Hrudayalaya share price

1,235.60
06:59 PM | 1 NOV 2024
-36.75 (-2.89%)
More from Top Losers

Brigade Enterprises share price

1,244.80
07:19 PM | 1 NOV 2024
71.75 (6.12%)

PCBL share price

432.15
07:17 PM | 1 NOV 2024
21.35 (5.2%)

Piramal Pharma share price

281.85
07:17 PM | 1 NOV 2024
13.45 (5.01%)

Jubilant Pharmova share price

1,273.00
06:59 PM | 1 NOV 2024
60.65 (5%)
More from Top Gainers

Recommended For You

    More Recommendations

    Gold Prices

    • 24K
    • 22K
    Bangalore
    80,565.00-790.00
    Chennai
    80,571.00-790.00
    Delhi
    80,723.00-790.00
    Kolkata
    80,575.00-790.00

    Fuel Price

    • Petrol
    • Diesel
    Bangalore
    102.92/L-0.06
    Chennai
    101.23/L0.43
    Kolkata
    104.95/L0.00
    New Delhi
    94.77/L0.00

    Popular in Markets

      HomeMarketsPremiumInstant LoanMint Shorts