Breakout stocks to buy or sell: The Equity markets after a large sell of on Monday remained volatile on Tuesday. Though the benchmark indices Sensex and Nifty gained more than 1% during intraday trades nevertheless settled lower by end of the day. The Nifty- 50 index ended 63.05 points lower at 23,992.55, down 0.26% while the S&P BSE Sensex at 78,593.07 shed 166.33 points ending 0.21% lower on Tuesday. It was the pressure on heavyweights, particularly in the banking sector, that put pressure on the indices after initial recovery amidst mixed global signals.
After Nifty giving up early gains on Tuesday. August 06 to end in the negative, Deepak Jasani, Head of Retail Research at HDFC Securities said that it formed a pattern known as Bearish side by side black candle. This could mean continuation of the downtrend though with lesser speed. Nifty could head towards 23667 on breach of the support of 23894, while 24383 could offer resistance on the upside in the near term.
As Wednesday trade may again remain watchful here are five shares to buy today recommended by Sumeet Bagadia
Sumeet Bagadia, Executive Director at Choice Broking recommends to Buy
Archidply Industries in Cash market at ₹140.67 with a stop loss to be kept at ₹135.5 for a Target of ₹147.5
K. P. R. Mill Ltd- Buy in Cash at ₹945.55 with a stop loss at ₹910 for a target price of ₹992
Century Enka Ltd - Buy in Cash market at ₹665.4 , with a stop loss set at ₹640 for a target price of ₹700
Gokaldas Exports Ltd - Buy in Cash market at ₹1054.9 with a stop loss set at ₹1020 for a target price of ₹1110
BLS International Services Ltd - Buy in cash segment at ₹385.10 with a stop loss set at ₹371 for a target of ₹405
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.
