Breakout stocks to buy or sell: Sumeet Bagadia recommends five shares to buy

Stock market today: Sumeet Bagadia of Choice Broking believes that the overall trend for the Indian stock market is positive as the Nifty 50 index has closed over the 25,000 hurdles.  (MINT)
Stock market today: Sumeet Bagadia of Choice Broking believes that the overall trend for the Indian stock market is positive as the Nifty 50 index has closed over the 25,000 hurdles. (MINT)

Summary

  • Breakout stocks to buy or sell: Sumeet Bagadia has recommended five shares to buy today — NDR Auto, Precision Wires, Kamdhenu, Quickheal, and AGS Transact Technologies

Breakout stocks to buy or sell: Following strong global market sentiments on the US Fed rate cut buzz, the Indian stock market finished on a higher note on Monday. The Nifty 50 index regained the psychological 25,000 peak and ended at 25,010. The BSE Sensex surged 611 points and closed at 81,698, while the Bank Nifty index finished 214 points higher at 51,148. Cash market volumes on the NSE continued to fall, down 5.6% compared to the previous day. Broad market indices rose less than the Nifty even as the advance-decline ratio remained positive at 1.07:1.

Sumeet Bagadia's stock recommendations today

Sumeet Bagadia, Executive Director at Choice Broking, believes that the overall trend for the Indian stock market is positive as the Nifty 50 index has closed over the 25,000 hurdles. The Choice Broking expert said crucial support for the 50-stock index is now placed at 24,800 to 24,750, whereas the frontline index faces a hurdle at 24,550 to 24,600. Bagadia said the Indian stock market is on a bull trend, and the majority of the Indian index is in over-bought condition. So, a stock-specific approach focusing on the breakout stocks would be suitable for intraday trading.

Regarding breakout stocks to buy today, Sumeet Bagadia recommended buying these five shares: NDR Auto, Precision Wires, Kamdhenu, Quickheal, and AGS Transact Technologies.

Stock market today

On the outlook for the Indian stock market today, Sumeet Bagadia said, “The Nifty 50 index has crucial support placed at 24,800 to 24,750 whereas it is facing hurdle in 25,550 to 25,600 range. The frontline index closing above the psychological 25,000 mark has improved Dalal Street, and we expect the US Fed rate buzz to fuel the 50-stock index towards its upper bottleneck. On breaching above 25,600 decisively, Nifty may touch the 25,850 to 25,900 range."

Shares to buy today

1] NDR Auto: Buy at 1639, target 1740, stop loss 1572;

2] Precision Wires: Buy at 193.40, target 204, stop loss 186;

3] Kamdhenu: Buy at 551.75, target 585, stop loss 533;

4] Quickheal: Buy at 700, target 737, stop loss 677; and

5] AGS Transact Technologies: Buy at 106, target 111, stop loss 102.

Disclaimer: The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.

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