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Breakout Stocks to Buy or Sell Today: The Indian stock market ended lower on Friday following flat trends in global markets. The Nifty 50 index dropped 34 points, closing at 24,964, while the BSE Sensex lost 230 points, finishing at 81,381. The Nifty Bank index also went down by 358 points, ending at 51,172. Trading volumes on the NSE cash market fell by 13%, with broad market indices closing slightly higher by around 0.5%. The advance-decline ratio stood at 1.06:1.
Sumeet Bagadia’s Stock Picks for Today:
Sumeet Bagadia, Executive Director at Choice Broking, suggests the Indian stock market remains cautious, with Nifty 50 trading in a range of 24,900 to 25,300. He believes that if the index breaks either side of this range, we could see a 200-point move, either up or down. Given that Q2 earnings for 2024 are ongoing, Bagadia recommends focusing on stock-specific breakout opportunities for intraday trading.
Here are Sumeet Bagadia’s top 5 breakout stocks to buy today:
- Sudarshan Chemical: Buy at ₹1201, target ₹1290, stop loss ₹1160.
- Usha Martin: Buy at ₹422, target ₹450, stop loss ₹408.
- Hitech Corporation: Buy at ₹320.50, target ₹340, stop loss ₹309.
- Neuland Laboratories: Buy at ₹14247.65, target ₹15000, stop loss ₹13700.
- Bigbloc Construction: Buy at ₹125.20, target ₹134, stop loss ₹121.
These are the stocks Bagadia recommends for those looking to trade based on market breakouts today.
Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.
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