Breakout stocks to buy or sell: The Indian stock market closed on a flat note on Wednesday, February 19, as gains in major financial stocks balanced out losses in the pharmaceutical sector, which declined following tariff threats from U.S. President Donald Trump.
The BSE Sensex declined by 28.21 points (0.04%) to settle at 75,939.18, while the Nifty 50 index dipped 12.40 points (0.05%) to end at 22,932.90.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that the Indian stock market sentiment is sideways as the Nifty 50 index is trading in a broader range of 22,800 to 23,300.
On the outlook for the Indian stock market today, Sumeet Bagadia said, “Bullish or bearish trend can be assumed on the breakage of either side of the range. So, investors are advised to look at those stocks that are looking strong on the technical chart. Looking at breakout stocks for intraday trading can be a good option.”
Regarding breakout stocks for intraday trading, Sumeet Bagadia recommended buying these five shares today: Devyani International, Elecon Engineering Company, Caplin Point Laboratories, Tejas Networks, and Rites.
Stocks to buy today
1] Devyani International: Buy at ₹168.56, target ₹182, stop loss ₹164;
2] Elecon Engineering Company: Buy at ₹466.75, target ₹500, stop loss ₹450;
3] Caplin Point Laboratories: Buy at ₹2,024.30, target ₹2,166, stop loss ₹1,953;
4] Tejas Networks: Buy at ₹802.60, target ₹859, stop loss ₹775;
5] Rites: Buy at ₹213.25, target ₹228, stop loss ₹206.
Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.
