Breakout Stocks to Buy or Sell: Despite high volatility during intraday trading, the Indian Stock Market closed higher on Thursday. 50 elegant The BSE and BSE Index surged to a fresh high following a strong upside move in the share price of Dalal Street heavyweight Reliance. Ahead of the 47th Annual General Meeting, Reliance Industries Limited (RIL) announced the issue of bonus shares in the ratio of 1:1, triggering strong buying in RIL shares, which boosted the blue-chip indices. Nifty Bank closed marginally higher at 51,152.
Sumeet Bagadia’s stock recommendations today
Sumeet Bagadia, CEO of Choice Broking, believes that the overall trend of the Indian stock market is positive. The Choice Broking expert said that the Nifty 50 index had formed a crucial base at 24,850 to 24,900, while the 50-share index is all set to touch the 24,550 to 24,600 mark soon. After the annual general meeting of Reliance, the share price of Reliance saw a strong upside move. Therefore, many blue-chip stocks like Reliance, TCS, ITC, Infosys, etc., are primed for an upside move. On Friday, Bagadia suggested a specific approach for the stocks and recommended breakout stocks for intraday trading.
Regarding the breakup stocks to buy todaySumeet Bagadia recommended buying these five stocks: NRL, Geekay Wires, Cybertech, Gokul Agro and Pokarna.
The stock market today
Commenting on the outlook for the Indian stock market today, Sumeet Bagadia said, “The Nifty has a crucial support today located between 24,850 and 24,900. The 50-share index has managed to hold above the 25,000 mark, which augurs well for the blue-chip index, and we expect the 50-share index to touch the 24,550 to 24,600 mark in the near term.”
Bagadia said the rally in Reliance share price on Thursday pushed the Nifty and Sensex to record highs as many blue-chip indices listed on these indices are now looking for an uptrend.
Stocks to buy today
1]NRL: Buy in ₹101.27, target ₹107, stop loss ₹97.50;
2]Geekay Cables: Buy in ₹120.74, target ₹127, stop loss ₹116;
3]Cybertechnology: Buy in ₹229.57, target ₹240, stop loss ₹220;
4]Gokul Agro: Buy in ₹263.35, target ₹279, stop loss ₹253; and
5]The bags: Buy in ₹950.85, target ₹1000, stop loss ₹913.
Disclaimer: The opinions and recommendations expressed in this article are those of individual analysts and do not represent the views of Mint. We recommend that investors consult with certified experts before making any investment decisions.
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