Breakout stocks to buy or sell: The Indian stock market closed with solid gains on Thursday, October 9, supported by broad-based buying across sectors ahead of the September-quarter earnings season kickoff. IT heavyweight Tata Consultancy Services (TCS) reported its second quarter earnings on Thursday.
The Sensex rose 398 points, or 0.49 per cent, to finish at 82,172.10, while the Nifty 50 index advanced 136 points, or 0.54 per cent, to close at 25,181.80. The BSE Midcap index gained 0.75 per cent, and the Smallcap index ended 0.18 per cent higher.
Markets are currently centered on Q2 earnings, which are anticipated to be relatively subdued. However, analysts expect strong earnings growth in the second half of the financial year, potentially propelling the market to fresh highs.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that the optimistic view of the Indian stock market is maintained as the Nifty 50 index has been sustaining above 25,000 levels despite finding resistance at 25,200 levels.
Speaking on the outlook of Indian stock market, Bagadia said, “ On breaking above this hurdle, we can expect strong buying from bull’s and the key benchmark index may soon touch 25,500 and 25,800 levels.”
Stocks to buy today
Sumeet Bagadia recommends five breakout stocks to buy today: Dr. Agarwal’s Health Care, Precision Wires India, Blackbuck, Subros, Hi-Tech Gears.
1] Dr. Agarwal’s Health Care: Buy at ₹506, target ₹545, stop loss ₹490;
2] Precision Wires India: Buy at ₹213, target ₹230, stop loss ₹206;
3] Subros: Buy at ₹1164, target ₹1250, stop loss ₹1120;
4] Blackbuck: Buy at ₹679, target ₹730, stop loss ₹655;
5] Hi-Tech Gears: Buy at ₹814, target ₹875, stop loss ₹785.
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.