Breakout stocks buy or sell: The Indian stock market closed with modest gains on Wednesday, May 7, despite escalating tensions between India and Pakistan. The benchmark Sensex initially dropped nearly 700 points to 79,948.80 following India’s announcement of Operation Sindoor, which targeted terrorist sites in Pakistan and Pakistan-occupied Jammu and Kashmir.
However, the market quickly rebounded, reaching an intraday high of 80,844.63, before ending the day at 80,746.78—up 106 points or 0.13%. Meanwhile, the Nifty 50 rose by 35 points, or 0.14%, to close at 24,414.40.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that the Indian stock market sentiment is cautiously positive as the Nifty 50 index is trading above 24,300.
Speaking on the outlook of Indian stock market, Bagadia said, “ One should maintain stock-specific approach and look into bottom fishing opportunity on every dip untill this support remains sacrosanct. Amid escalating tension in India-Pakistan conflict, one should look at those stocks that are looking strong on the technical chart. Breakout stocks can be a good option.”
Breakout stocks to buy or sell: Sumeet Bagadia recommends five shares to buy today — Nazara Technologies, SRF, Devyani International, Kaynes Technology India, and Avalon Technologies.
Stocks to buy today
1] Nazara Technologies: Buy at ₹1070, target ₹1145, stop loss ₹1033;
2] SRF: Buy at ₹3050, target ₹3250, stop loss ₹2950;
3] Devyani International: Buy at ₹183.04, target ₹196, stop loss ₹176;
4] Kaynes Technology India: Buy at ₹5842, target ₹6250, stop loss ₹5600;
5] Avalon Technologies: Buy at ₹878, target ₹940, stop loss ₹845.
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.
