Breakout stocks today: REC, Gokaldas Exports to Astral — Sumeet Bagadia recommends 5 stocks to buy today

  • Breakout stocks today: Sumeet Bagadia has recommended five stocks to buy today — REC, Hitachi Energy, Gokaldas Exports, Neuland Laboratories, and Astral

Asit Manohar
Updated2 May 2024, 06:21 AM IST
Buy or sell stocks: Despite sell-off trigger in the last hour of trade on Tuesday, some stocks remained strong on the technical chart pattern, believes Sumeet Bagadia of Choice Broking.
Buy or sell stocks: Despite sell-off trigger in the last hour of trade on Tuesday, some stocks remained strong on the technical chart pattern, believes Sumeet Bagadia of Choice Broking.(Photo: MINT)

Breakout stocks: Following a pause in the global market gains on Tuesday with traders cautious ahead of the release of key European inflation and growth data, the frontline indices of the Indian stock market erased all the intraday gains in the last hour of trade and ended in the negative zone. The Nifty 50 index finished 38 points lower after climbing to a new peak of 22,783 whereas the BSE Sensex ended 188 points lower after inching close to its existing lifetime high of 75,124. The Bank Nifty index closed 27 points south after hitting a new high of 49,974 during Tuesday deals. Cash market volumes on the NSE rose to Rs.1.25 lakh crore. The broad market indices ended in the positive even as the advance-decline ratio fell to 0.83:1.

Breakout stocks for tomorrow

However, despite this sell-off trigger in the last hour of trade on Tuesday, some stocks remained strong on the technical chart pattern. Sumeet Bagadia, Executive Director at Choice Broking said that overall Indian stock market bias is still strong as the Nifty 50 index has made a strong base around 22,350 to 22,400 zone. The Choice Broking expert said that the current base for the 50-stock index is expected to remain sacrosanct and any dip toward this zone should be seen as a buying opportunity. On breakout stocks for today, Sumeet Bagaia said that five stocks gave a decisive breakout during Tuesday's session and those 5 shares are REC, Hitachi Energy, Gokaldas Exports, Neuland Laboratories, and Astral. Bagadia recommended buying these breakout stocks during Thursday session.

Breakout stocks to buy tomorrow

1] Hitachi Energy or Power India: Buy at 9500, target 10111, stop loss 9292;

2] REC: Buy at 507, target 535, stop loss 488;

3] Gokaldas Exports: Buy at 879, target 933, stop loss 844;

4] Neuland Laboratories: Buy at 7600, target 7999, stop loss 7333; and

5] Astral: Buy at 2118, target 2280, stop loss 2020.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

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₹313 Cr

₹773.44 Cr

34.7 M sqft

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First Published:2 May 2024, 06:21 AM IST
HomeMarketsStock MarketsBreakout stocks today: REC, Gokaldas Exports to Astral — Sumeet Bagadia recommends 5 stocks to buy today

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