Breakout stocks to buy or sell: Sumeet Bagadia recommends five shares to buy today — January 1, 2025 | Stock Market News
Source: Live Mint
Breakout stocks to buy or sell: The Indian stock market indices closed lower amid weak global cues in the previous market session. The Nifty 50 index closed flat at 23,644.80 points, compared to 23,644.90 points on Tuesday.
The BSE Sensex closed 0.14 per cent lower at 78,139.01 points after Tuesday’s market session, compared to 78,248.13 points at the previous market close.
Sumeet Bagadia’s breakout stocks to buy today
Sumeet Bagadia, Executive Director at Choice Broking, believes the domestic stock market’s bias remains cautious as the Nifty 50 index once slipped below the crucial 23,500 support mark. The benchmark index has strong support at 23,250 points now, indicating the Nifty will be in a broad range of 23,250 to 23,850 today.
On the outlook for the Indian stock market today, Sumeet Bagadia said, “Overall, the India stock market bias is cautious as the Nifty 50 index once slipped below the crucial 23,500 support. Even though it recovered from the intraday loss and closed above 23,500-mark, the 50-stock index is facing a strong hurdle at 200-DEMA of 23,850. The frontline index has strong support now at 23,250, and that means Nifty today is likely to be in a broad range of 23,250 to 23,850. A bullish or bearish trend can be assumed on the breakage of either side of this range. Hence, intraday traders are advised to maintain a stock-specific approach and look at breakout stocks.”
Regarding breakout stocks to buy today, Sumeet Bagadia recommended buying Pix Transmissions Ltd, Associated Alcohols & Breweries Ltd, Latent View Analytics Ltd, Sudarshan Pharma Industries Ltd, and Premier Polyfilm Ltd.
Shares to buy today
1. Pix Transmissions Ltd. (PIXTRANS): Buy at ₹2,508; Target at ₹2,666; Stop Loss at ₹2,420.
2. Associated Alcohols & Breweries Ltd. (ASALCBR): Buy at ₹1,103.25; Target at ₹1,170; Stop Loss at ₹1,065.
3. Latent View Analytics Ltd. (LATENTVIEW): Buy at ₹489.5; Target at ₹525; Stop Loss at ₹470.
4. Sudarshan Pharma Industries Ltd. (SUDARSHAN): Buy at ₹44; Target at ₹48; Stop Loss at ₹42.
5. Premier Polyfilm Ltd. (PREMIERPOL): Buy at ₹73.9; Target at ₹81; Stop Loss at ₹71.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
