By Soumya Ranjan Breakout stocks to buy or sell: Heritage Foods, Rico Auto Industries, Mawana Sugars, Indo Amines, and Hindware Home Innovation are the five stocks that Sumeet Bagadia suggests purchasing today.
Buy or sell breakout stocks:
On Wednesday, June 4, the Indian stock market recovered from a three-day losing streak, primarily thanks to major heavyweight stocks like HDFC Bank, Reliance Industries, Bharti Airtel, and Infosys.
The Sensex finished the day 260 points higher (0.32%) at 80,998, while the Nifty 50 increased 70 points (0.3%) to close at 24,610. The primary benchmarks were outperformed by broader market indices; the Nifty Midcap 100 and Nifty Smallcap 100 gained 0.80% and 0.70 percent, respectively.
The breakout stock recommendations of Sumeet Bagadia
Given that the Nifty 50 index is holding steady above 24,500, Choice Broking Executive Director Sumeet Bagadia thinks that sentiment in the Indian stock market is cautious to positive.
When discussing the Indian stock market’s outlook, Bagadia stated, “If this support is breached, the market bias may become weak and the key benchmark index may attempt to test the 24,150 to 24,200 levels.” The 50-stock index is encountering a barrier at 24,800 on the upper side. Therefore, one should stick to a stock-specific strategy and focus on stocks that appear to be doing well on the technical chart. Examining breakout stocks may be a wise choice.
Stocks to purchase today
Heritage Foods, Rico Auto Industries, Mawana Sugars, Indo Amines, and Hindware Home Innovation are the five stocks that Sumeet Bagadia suggests purchasing today.
1] Heritage Foods: Buy at ₹446.1, target ₹477, stop loss ₹430;
2] Rico Auto Industries: Buy at ₹81.91, target ₹88, stop loss ₹79;
3] Mawana Sugars: Buy at ₹105.74, target ₹113, stop loss ₹102;
4] Indo Amines: Buy at ₹158.31, target ₹170, stop loss ₹152;
5] Hindware Home Innovation: Buy at ₹281.1, target ₹301, stop loss ₹271.
Disclaimer: The opinions and suggestions expressed in this analysis are not those of Times of Dalal Street, but rather those of individual analysts or broking firms. Since market conditions can fluctuate quickly and individual circumstances can differ, we strongly advise investors to seek advice from certified experts before making any investment decisions.
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