Stocks to buy or sell: Ahead of the central bank policy meetings in the United States, UK and Japan, the Indian stock market started the week with marginal gains. The Nifty 50 index finished at 24,842, adding 7 points in the previous close. The BSE Sensex went up 23 points and closed at 81,355, whereas the Bank Nifty index ended 92 points higher at 51,388.
According to Sumeet Bagadia, Executive Director at Choice Broking, the Indian stock market remained highly volatile on Monday, but the Nifty 50 index came close to the psychological 25,000 mark. Bagadia said that the 50-stock index is facing a hurdle at 25,000, but it has made a strong base at 24,500. He said that the market mood is still positive, and any dip should be seen as a buying opportunity. He suggested a stock-specific approach and recommended breakout stocks for intraday trading.
Speaking on the outlook for the Indian stock market today, Sumeet Bagadia said, "The overall sentiment on Dalal Street is positive. The Nifty 50 index almost touched the psychological 25,000 peak. However, in the current volatility ahead of the US Fed meeting outcome today, the market may remain cautious, and my suggestion would be a stock-specific approach for intraday trading. One can look at breakout stocks, as some still look positive on technical charts."
Regarding breakout stocks to buy today, Sumeet Bagadia recommended these shares to buy today: DCW, RITES, RUPA, Vishnu Prakash R Punglia (VPRL), and Jay Bharat Maruti.
1] DCW: Buy at ₹69, target ₹72.50, stop loss ₹66.50;
2] RITES: Buy at ₹762, target ₹800, stop loss ₹7.5;
3] RUPA: Buy at ₹321, target ₹336, stop loss ₹310;
4] VPRPL: Buy at ₹265, target ₹277, stop loss ₹255; and
5] Jay Bharat Maruti: Buy at ₹121.70, target ₹127, stop loss ₹117.
Disclaimer: 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.
