Breakout stocks buy or sell: The Indian stock market closed lower for the second straight session on Friday, July 18, as investors continued to reduce their equity holdings due to lackluster earnings, high market valuations, and ongoing uncertainty surrounding tariffs.
The Sensex declined by 502 points, or 0.61 per cent, ending at 81,757.73, while the Nifty 50 fell 143 points, or 0.57 per cent, to close at 24,968.40. The BSE Midcap index slipped 0.62 per cent, and the Smallcap index dropped by 0.64 per cent.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that Indian stock market sentiment has turned weak as the Nifty 50 index has closed close to its 50-DEMA support of 24,900.
Speaking on the outlook of Indian stock market, Bagadia said, “ On breaking below this support, the key benchmark index may try to touch next support of 24,650. So, one should maintain stock-specific approach and look at those stocks that are looking strong on the technical chart. Looking at breakout stocks can be a good option.”
Stocks to buy today
Sumeet Bagadia recommends five breakout stocks to buy today: Max Estates, I G Petrochemicals, Blue Jet Healthcare, Sanathan Textiles, and Sagar Cements.
1] Max Estates: Buy at ₹552.9, target ₹590, stop loss ₹535;
2] I G Petrochemicals: Buy at ₹509, target ₹540, stop loss ₹490;
3] Blue Jet Healthcare: Buy at ₹1010.2, target ₹1080, stop loss ₹975;
4] Sanathan Textiles: Buy at ₹554.05, target ₹590, stop loss ₹535;
5] Sagar Cements: Buy at ₹268.5, target ₹288, stop loss ₹260.
Disclaimer: This story is for educational purposes only. 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.