Indian Stock Market is still volatile for the fifth consecutive day. On Monday BSE Sensex dipped more than 850 points. Nifty 50 also dropped below 22600. The decline is mainly driven by major drops in heavyweight financial and IT stocks. But, still, there are good stocks that can breakout and give a good return. What is Sumeet Bagadia, Executive Director at Choice Broking, recommending today? Let’s find out.
Stocks to buy today by Sumeet Bagadia
According to Sumeet Bagadia, Indian Stock Market bias has become extremely weak as the Nifty 50 finally broke the 22,800 support level. 50-stock may try to test the 22,400. If that fails it might decline to 22,100. This why It’s better to look at stocks that have strong technical charts. Below is the list of 5 stocks that can breakout today.
Breakout Stocks by Sumeet Bagadia
1. Camlin Fine Sciences: According to Sumeet Bagadia this stock can be purchased at Rs 161.01 and sold at a target price of Rs 177. Do remember to keep a stop loss at Rs 156.
2. GSK Plc: Second stock on the recommendation list is GSK Plc. Investors can enter at Rs 2638.15 and aim for Rs 2800 target price, keeping a stop loss at Rs 2550.
3. GRM Overseas: Another good stock according to Mr. Bagadia is GRM Overseas, which can be purchased at Rs 220.54, and the target price is set at Rs 235. Also, there should be stop loss of Rs 212.
4. Avanti Feeds: This stock is also on the recommendation list. Avanti Feeds share can be purchased at Rs 735 with a target price of Rs 785 and there should be a stop loss ar Rs 707.
5. Som Distilleries and Breweries: the last recommendation for today is Som Distilleries and Breweries. The company’s share can be purchased at Rs 116.8 and the target price to sell is Rs 125. Also, investors are advised to keep a stop loss at Rs 112.5
All the stock recommendations is by the individual analyst. Investors are advised to consult their registered expert before making any investment-related decision.
