Top 5 Breakout Stocks to Invest in: COLPAL to Havells, Expert Sumeet Bagadia’s Recommendations

  • After a weak opening, the Indian stock market witnessed a sharp recovery on Monday, with some stocks breaking the hurdle and giving a technical breakout.
  • Sumeet Bagadia, Executive Director at Choice Broking, listed five breakout stocks for intraday traders to consider on Tuesday: Alkem Laboratories, COLPAL, Havells India, D Link (India), and Shaily Engineering.
  • The Indian stock market may continue to remain volatile as the India VIX Index has broken above the 19 hurdle and may soon touch the 25 level in the near term.

Discover the five breakout stocks to consider in the volatile Indian stock market, as recommended by Sumeet Bagadia, Executive Director at Choice Broking.

Stock Market Today

Providing his expert analysis on the outlook for the Indian stock market, Sumeet Bagadia stated, “The Indian stock market may continue to remain volatile as the India VIX Index has broken above the 19 hurdle and it may soon touch the 25 level in the near term. The volatile index may touch 28 and 30 mark once it breaches the 25 hurdle decisively.”

Nifty 50 Outlook

Regarding the outlook for the Nifty 50 today, Bagadia emphasized, “The 50-stock index has crucial support at 21,750 to 21,800 levels and this support has proven to be steadfast in the recent fall. If the index sustains above the 22,000 level, then we can anticipate another 200 to 250 points rally. However, the bounce back would remain a relief rally until the Nifty 50 index breaches the 22,300 mark decisively.”

Breakout Stocks to Buy Today

Advising intraday traders to look at the breakout stocks during Tuesday deals, Sumeet Bagadia recommended five stocks to buy today. Here we list out full details regarding those breakout stocks:

  • Alkem Laboratories: Buy at ₹5210, target ₹5540, stop loss ₹5035;
  • COLPAL: Buy at ₹2859, target ₹3060, stop loss ₹2757;
  • Havells India: Buy at ₹1702.50, target ₹1800, stop loss ₹1650;
  • D Link (India): Buy at ₹387.50, target ₹411, stop loss ₹370; and
  • Shaily Engineering: Buy at ₹660.20, target ₹711, stop loss ₹635.

Conclusion

While the Indian stock market may continue to remain volatile, there are opportunities for intraday traders in the form of breakout stocks. The five stocks recommended by Sumeet Bagadia offer potential for gains, but as always, investors are advised to consult with certified experts before making any investment decisions.

BREAKING NEWS

Binance Refutes CJ’s False X Claims, Affirms No Listing Fees and Vows Legal Action to Protect BNB Listings

COINOTAG reported that on October 15 Binance publicly rebutted...

Insider Whale Closes $500M Bitcoin Short on Hyperliquid, Nets $5M After October 10 Crash

COINOTAG News and MLM Monitor report that the market...

BINANCE REFUTES CLAIMS ABOUT CHARGING FOR LISTING FEES AND DUMPING TOKENS, RESERVES RIGHTS TO TAKE LEGAL ACTION: X

BINANCE REFUTES CLAIMS ABOUT CHARGING FOR LISTING FEES AND...

STRIPE ADDS STABLECOIN PAYMENTS FOR SUBSCRIPTIONS – BBG

STRIPE ADDS STABLECOIN PAYMENTS FOR SUBSCRIPTIONS - BBG
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img