Breakout stocks to buy or sell: Both Indian indices closed on a lower note on Wednesday, March 26, as investors locked in profits following a seven-day rally in the key indices.
The Nifty 50 closed the session with a 0.77 per cent decline at 23,486 points, bringing an end to its seven-day winning streak. Similarly, the Sensex saw a 0.93 per cent drop, ending its seven-day rally and settling at 77,288 points.
Sumeet Bagadia, Executive Director at Choice Broking, believes that the Indian stock market sentiment is positive as the Nifty 50 index is still above 23,500.
Speaking on the outlook of Indian stock market, Bagadia said, “ The market mood would remain buy on dips untill the frontline index is above 23,000. So, one should maintain stock-specific approach and look at those stocks that are looking strong on the technical chart pattern. One can look at breakout stocks for intraday trading."
Sumeet Bagadia recommended buying these seven breakout shares to buy today - Aavas Financiers, Windlas Biotech, HEG, A B Infrabuild, and Elecon Engineering Company.
1] Aavas Financiers: Buy at ₹2013.60, target ₹2155, stop loss ₹1943;
2] Windlas Biotech: Buy at ₹1028.25, target ₹1100, stop loss ₹992;
3] HEG: Buy at ₹499.25, target ₹535, stop loss ₹481;
4] A B Infrabuild: Buy at ₹99.10, target ₹106, stop loss ₹95.6;
5] Elecon Engineering Company: Buy at ₹460.30, target ₹493, stop loss ₹444.
Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.
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