Breakout stocks buy or sell: The Indian stock market closed higher on Tuesday, September 9, driven mainly by a sharp rally in Infosys shares after the IT giant announced its board would review a buyback proposal for fully paid-up equity shares on Thursday, September 11.
Infosys alone added over 200 points to the Sensex, which finished 314 points, or 0.39 per cent, up at 81,101.32. The Nifty 50 also advanced 95 points, or 0.39 per cent, to close at 24,868.60.
Meanwhile, the BSE Midcap and Smallcap indices registered modest gains, ending 0.20 per cent and 0.22 per cent higher, respectively.
Sumeet Bagadia's breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that Indian stock market sentiment is cautiously positive as the Nifty 50 index closed above the 50-DEMA hurdle placed at 24,800.
Speaking on the outlook of Indian stock market, Bagadia said, “On sustaining above this hurdle would mean a fresh bull trend on Dalal Street. So, one should maintain stock-specific approach and look at those stocks that are looking strong on the technical chart. Looking at breakout stocks can be a good option."
Stocks to buy today
Sumeet Bagadia recommends five breakout stocks to buy today: Asahi India Glass, Arihant Capital Markets, Affle 3i, Kovai Medical Center And Hospital and Talbros Automotive Components.
1] Asahi India Glass: Buy at ₹875, target ₹940, stop loss ₹845;
2] Arihant Capital Markets: Buy at ₹115.85, target ₹125, stop loss ₹112;
3] Affle 3i: Buy at ₹2070, target ₹2222, stop loss ₹2000;
4] Kovai Medical Center And Hospital: Buy at ₹6350, target ₹6800, stop loss ₹6140;
5] Talbros Automotive Components: Buy at ₹307.95, target ₹330, stop loss ₹297.
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.
