Breakout stocks to buy or sell: The Indian stock market extended its gains for the third straight session, with the benchmark Sensex climbing 600 points and the Nifty 50 regaining the 25,850 mark on Wednesday, November 12.
During intraday trade, the Sensex surged 781 points, or nearly 1%, to touch a high of 84,652, while the Nifty 50 advanced almost 1% to reach 25,934.55.
By the close, the Sensex had gained 595 points, or 0.71%, to finish at 84,466.51, and the Nifty 50 ended at 25,875.80, up 180.85 points, or 0.70%.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that the Indian stock market bias has strengthened as the Nifty 50 index has broken above 25,750 on a closing basis and the index is now heading for the immediate target of 26,100.
“The 50-stock index has made a new crucial support at 25,700. So, one should maintain stock-specific approach and look at those stocks that are looking strong on the technical chart,” Bagadia said.
Stocks to buy today
Breakout stocks to buy or sell: Sumeet Bagadia recommends five breakout stocks to buy today: Remsons Industries, PDS, Atlanta Electricals, Garuda Construction and Engineering, and Astral.
1] Remsons Industries: Buy at ₹139.6, target ₹150, stop loss ₹134.5;
2] PDS: Buy at ₹402, target ₹430, stop loss ₹385;
3] Atlanta Electricals: Buy at ₹1014, target ₹1090, stop loss ₹980;
4] Garuda Construction and Engineering: Buy at ₹233, target ₹250, stop loss ₹224;
5] Astral: Buy at ₹1585, target ₹1700, stop loss ₹1530.
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.