Breakout stocks to buy or sell: The Indian market saw another day of consolidation as traders stayed cautious ahead of the Federal Reserve's upcoming policy meeting, on Tuesday. The Fed is anticipated to announce its first rate cut since 2020 on Wednesday.
The Nifty 50 closed the session with a 0.14% increase, reaching 25,418 points and coming close to its all-time high of 25,445 points, just 27 points short. Meanwhile, the S&P BSE Sensex ended with a 0.11% gain at 83,079 points, also achieving a new peak.
The Indian market exhibited a subtle positive momentum, driven by the anticipation of a rat-cut cycle by the US Fed.
“Although a 25-bps cut is largely factored in, the market remains attuned to the Fed's comments on the health of the economy and the future trajectory of rate cuts. Further, robust institutional flows continued to bolster the domestic market. While the overall trend remained positive, there was notable buying interest in large-cap stocks, particularly in sectors such as IT, FMCG, and private banks,” said Vinod Nair, Head of Research, Geojit Financial Services.
Regarding breakout stocks to buy today, Sumeet Bagadia, Executive Director at Choice Broking, recommended buying these five shares: Aarti Surfactants, Silgo Retail, Modison Ltd, Nava Limited, and Mallcom (India).
Aarti Surfactants | Previous close: ₹903.80 | Buying price: ₹902 | Target price: ₹955 | Stop loss: ₹870
Silgo Retail | Previous close: ₹45.40 | Buying price: ₹45.4 | Target price: ₹48 | Stop loss: ₹43.9
Modison Ltd | Previous close: ₹182.80 | Buying price: ₹208 | Target price: ₹220 | Stop loss: ₹200
Nava Limited | Previous close: ₹1,107.60 | Buying price: ₹1,255.15 | Target price: ₹1,322 | Stop loss: ₹1,205
Mallcom (India) | Previous close: ₹1,398.60 | Buying price: ₹1604.45 | Target price: ₹1685 | Stop loss: ₹1525
Disclaimer: The views and recommendations above are those of individual analysts, experts, and brokerage firms, not Mint. We advise investors to consult certified experts before making any investment decisions.
