Stocks to Buy or Sell Today:
The Indian stock market saw a significant rise on Wednesday due to positive global market sentiment and talks of a US Fed rate cut. Sumeet Bagadia, Executive Director at Choice Broking, noted that while the market is on an uptrend, investors should focus on specific stocks.
Breakout Stocks Today:
Bagadia highlighted that many stocks showed strong breakouts and remain positive on the technical charts. He recommended the following five breakout stocks for intraday trading:
- STC India:
- Buy at ₹181.20
- Target: ₹191
- Stop Loss: ₹175
- Shivalik Rasayan:
- Buy at ₹756.50
- Target: ₹800
- Stop Loss: ₹730
- Castrol India:
- Buy at ₹243.17
- Target: ₹255
- Stop Loss: ₹233
- Izmo:
- Buy at ₹390
- Target: ₹410
- Stop Loss: ₹375
- HUDCO:
- Buy at ₹302
- Target: ₹315
- Stop Loss: ₹290
Market Outlook:
Bagadia mentioned that with the dovish stance from US Fed members, the market anticipates further gains. The Nifty 50 index has reached a new high above 24,300 and is likely to climb to 24,500 and 24,800 soon. Bank stocks like HDFC Bank, Axis Bank, and ICICI Bank are also looking strong, suggesting potential growth in the Bank Nifty index.
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