Breakout stocks to buy or sell: The Indian stock market remained under pressure on Tuesday, September 30, as the Sensex and Nifty 50 extended their losing streak for the eighth straight session.
The Sensex slipped 97 points, or 0.12 per cent, to close at 80,267.62, while the Nifty 50 ended 24 points, or 0.10 per cent, lower at 24,611.10. Both the BSE Midcap and Smallcap indices finished flat.
Over this eight-session decline, the Sensex has fallen 3.31 per cent and the Nifty 50 has shed 3.20 per cent.
On the brighter side, both indices managed to post gains of over 0.5 per cent for the month, ending their two-month losing run.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that Indian stock market mood is cautious as the Nifty 50 index is caught in a small 24,700 to 24,600 range.
Speaking on the outlook of Indian stock market, Bagadia said, “ The 50-stock has made a crucial base at 24,500 to 24,450 which needs to remain sacrosanct. On breakage of this crucial support, the key benchmark index may try to test 24,200 to 24,150 range. On the upper side, the key index is facing hurdle at 24,800 to 24,850 range.”
Stocks to buy today
Sumeet Bagadia recommends five breakout stocks to buy today: Dr. Agarwal’s Health Care, Fortis Healthcare, Aditya Infotech, Irm Energy, and Metro Brands.
1] Dr. Agarwal’s Health Care: Buy at ₹508, target ₹545, stop loss ₹490;
2] Fortis Healthcare: Buy at ₹970, target ₹1040, stop loss ₹935;
3] Aditya Infotech: Buy at ₹1319, target ₹1414, stop loss ₹1275;
4] Irm Energy: Buy at ₹368, target ₹395, stop loss ₹355;
5] Metro Brands: Buy at ₹1290, target ₹1390, stop loss ₹1245.
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.
