Breakout stocks to buy or sell: The Indian stock market finished on Tuesday on a cautious, range-bound note, as profit booking in banking, IT and healthcare stocks emerged as a key drag on the indices, keeping overall sentiment subdued. In the absence of strong global or domestic triggers, investors preferred selective positioning over aggressive buying.
Sentiment, however, found some support after a senior National Stock Exchange (NSE) official expressed hope that the recent hike in securities transaction tax (STT) could be reconsidered, citing representations made to the finance minister, lending a mild supportive undertone to the market.
stock market today
Sumeet Bagadia, Executive Director at Choice Broking, believes the Indian stock market bias is cautious to positive, as the daily chart pattern of the Nifty 50 index indicates profit booking at higher levels and a lack of follow-through buying interest.
Nifty 50 today
Speaking on the outlook of the Nifty 50 today, Sumeet Bagadia said, “The immediate upside resistance is placed in the 26,050–26,100 zone, while the key downside support is located in the 25,750–25,800 range. From a momentum perspective, the daily RSI at 57.51 suggests a neutral-to-positive bias with no overbought conditions, keeping the broader trend. constructive.”
Bank Nifty today
On the outlook of the Bank Nifty today, Parekh said, “The immediate resistance is placed in the 60,900–61,000 zone, while the 60,300–60,400 support band remains critical for near-term stability. On the daily chart, the RSI at 59.74 signals positive but cooling momentum, with no signs of overbought conditions, keeping the broader trend constructive yet cautious. as the index sustains above 60,400 on a closing basis, a selective buy-on-dips strategy can be considered, with a strict stop-loss at 60,150.”
Stocks to buy today
Regarding stocks to buy today, Sumeet Bagadia recommended these five breakout stocks for intraday trading: Divgi TorqTransfer Systems, MedPlus Health Services, DCB Bank, Kirloskar Oil Engines, and Centum Electronics.
1]Divgi TorqTransfer Systems: Buy at ₹645 ₹690, Stop Loss ₹625;
2]MedPlus Health Services: Buy at ₹894 ₹955 ₹865;
3]DCB Bank: Buy at ₹198, Target ₹212, Stop Loss ₹190;
4]Kirloskar Oil Engines: Buy at ₹1265 ₹1360 ₹1215; and
5]Centum Electronics: Buy at ₹2478,Target ₹2666, Stop Loss ₹2390.
Disclaimer: This story is for educational purposes only. 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.
