India’s stock markets, Sensex and Nifty 50, opened higher on Wednesday, boosted by positive trends in global markets. Sensex started the day 109.19 points up at 79,065.22, while Nifty 50 gained 45.40 points to begin at 24,184.40. Midcap and smallcap indices also traded positively.
Sectors like Nifty PSU Bank, Nifty IT, Nifty Auto, and Nifty Metals led the gains, while Nifty Pharma and Nifty Realty saw slight declines.
This rise comes after a sharp drop on Tuesday, where the Sensex fell by 692.89 points and the Nifty 50 dropped 208.00 points due to heavy selling in blue-chip stocks, foreign fund outflows, and mixed global market signals.
On the technical side, analysts note that Nifty 50 has shown signs of sideways to bearish momentum, but if it stays above the 24,400 mark, it could climb to 24,550 or even 24,600.
Sumeet Bagadia, Executive Director at Choice Broking, has identified five stocks poised for a breakout today, August 14, which could see decent upward momentum.
Here are the five stocks to buy today:
- Rane (Madras)
- Buy at: ₹965.65
- Target: ₹1,040
- Stop Loss: ₹928
- Innova Captab
- Buy at: ₹653
- Target: ₹705
- Stop Loss: ₹627
- Max Estates
- Buy at: ₹589.85
- Target: ₹640
- Stop Loss: ₹565
- Sarda Energy & Minerals
- Buy at: ₹299.75
- Target: ₹325
- Stop Loss: ₹288
- Strides Pharma Science
- Buy at: ₹1,179.15
- Target: ₹1,275
- Stop Loss: ₹1,133
These stocks are recommended for potential short-term gains as they are expected to break out technically and move upward.
