Breakout stocks to buy or sell: Both Indian benchmark indices - Sensex and Nifty - pulled back after six consecutive sessions of gains, as bulls were once again unable to reclaim record levels that remain slightly over 1% away. Following the recent rally, investors booked profits while awaiting key US economic data that could influence expectations around future Fed rate cuts.
The 30-stock BSE Sensex slipped 278 points, or 0.33%, to 84,673, and the NSE Nifty 50 fell 103 points, or 0.40%, to 25,910.
The sell-off was widespread, with all key sectoral indices ending lower. The broader markets also weakened, with the BSE Midcap index slipping 0.70% and the BSE Smallcap index falling 0.85%.
Sumeet Bagadia's breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that the Indian stock market sentiment is cautious to positive as the Nifty 50 index is sustaining above 25,700.
“The key index is facing a hurdle at the 26,000 to 26,100 levels. On breaking above this hurdle, the 50-stock index may soon touch 26,700 and 27,000. 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 - Faze Three, SeQuent Scientific, Control Print, Anand Rathi Share and Stock Brokers, and Supriya Lifescience.
1] Faze Three: Buy at ₹546, target ₹590, stop loss ₹525;
2] SeQuent Scientific: Buy at ₹247, target ₹265, stop loss ₹238;
3] Control Print: Buy at ₹773, target ₹830, stop loss ₹744;
4] Anand Rathi Share and Stock Brokers: Buy at ₹773, target ₹830, stop loss ₹750;
5] Supriya Lifescience: Buy at ₹802, target ₹865, stop loss ₹770.
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.
