
Breakout stocks to buy or sell: The Indian stock market extended its losing streak to a fifth consecutive session on Thursday, September 25, closing sharply lower in line with weak global sentiment.
The Sensex ended at 81,159.68, slipping 555.95 points, or 0.68 per cent, while the Nifty 50 dropped 166.05 points, or 0.66 per cent, to settle at 24,890.85.
Broader indices also finished in the red, with the Nifty MidCap 100 falling 0.64 per cent and the Nifty SmallCap 100 declining 0.57 per cent.
Sumeet Bagadia, Executive Director at Choice Broking, believes that Indian stock market sentiment has turned cautious as the Nifty 50 index has slipped below 25,000 levels and came close to its crucial support placed at 24,900 levels.
Speaking on the outlook of Indian stock market, Bagadia said, “ There can be panic selling once the key benchmark index slides below this support. 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."
Sumeet Bagadia recommends five breakout stocks to buy today: Arihant Capital Markets, Hindware Home Innovation, Inox Green Energy Services, KIOCL, and Hindustan Zinc.
1] Arihant Capital Markets: Buy at ₹110.4, target ₹118, stop loss ₹106;
2] Hindware Home Innovation: Buy at ₹327, target ₹360, stop loss ₹320;
3] Inox Green Energy Services: Buy at ₹205.5, target ₹221, stop loss ₹197;
4] KIOCL: Buy at ₹457, target ₹495, stop loss ₹440;
5] Hindustan Zinc: Buy at ₹466, target ₹500, stop loss ₹450.
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.