The Indian stock market is expected to open higher on Wednesday, driven by positive global cues. Although the Sensex and Nifty 50 closed slightly lower on Tuesday, hitting record highs earlier in the day, analysts predict the market will remain volatile and trade within a narrow range.
Market Outlook:
- Sensex: Closed at 79,441.45, down 34.74 points (0.04%).
- Nifty 50: Closed at 24,123.85, down 18.10 points (0.07%).
Key Levels:
- Resistance: If Nifty 50 stays above 24,200, it could rise to 24,500-24,600.
- Support: Immediate support at 24,000 and 23,800.
Breakout Stocks to Buy Today:
Sumeet Bagadia, Executive Director at Choice Broking, suggests buying the following breakout stocks for potential gains:
- Indo Borax & Chemicals
- Buy at: ₹202.25
- Target: ₹215
- Stop Loss: ₹195
- Pudumjee Paper Products
- Buy at: ₹132.35
- Target: ₹139
- Stop Loss: ₹128
- DCX Systems
- Buy at: ₹430.15
- Target: ₹450
- Stop Loss: ₹415
- POCL Enterprises
- Buy at: ₹952.75
- Target: ₹1,000
- Stop Loss: ₹915
- Rane Holdings
- Buy at: ₹1,810.75
- Target: ₹1,900
- Stop Loss: ₹1,745
These stocks have shown promising breakouts on their technical charts, presenting a buying opportunity for potential upside gains.
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.
