Breakout stocks to buy or sell: The Indian market ended its three-day losing streak with solid gains on Thursday, December 11. The rally followed a 25-basis-point rate cut by the US Federal Reserve, along with guidance for another cut next year, which pushed the dollar index down 0.25% and pulled the US 10-year Treasury yield to 4.12%.
The Sensex climbed 427 points (0.51%) to close at 84,818.13, while the Nifty 50 advanced 141 points (0.55%) to finish at 25,898.55. Broader markets also participated in the uptrend, with the BSE Midcap index rising 0.79% and the Smallcap index gaining 0.51%.
Sumeet Bagadia's breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that the Indian stock market sentiment has improved as the Nifty 50 index bounced back strongly after breaking below the 50-DEMA support for a while.
“The key index has ended near 25,900 and is facing an immediate hurdle at 26,000. For providing strength to bull's conviction, the 50-stock index needs to break above 26,000 on a closing basis. 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,” said Bagadia.
Stocks to buy today
Sumeet Bagadia recommends five breakout stocks to buy today - Yatra Online, Natco Pharma, Sakar Healthcare, Ramco Systems, and Prataap Snacks.
1] Yatra Online: Buy at ₹180, target ₹194, stop loss ₹173;
2] Natco Pharma: Buy at ₹914, target ₹980, stop loss ₹880;
3] Sakar Healthcare: Buy at ₹421, target ₹460, stop loss ₹410;
4] Ramco Systems: Buy at ₹654, target ₹700, stop loss ₹630;
5] Prataap Snacks: Buy at ₹1085, target ₹1170, stop loss ₹1050.
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.
