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.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.
spot_imgspot_imgspot_imgspot_img

Latest News

Nvidia (NVDA) Stock Soars Over 5% Following Stellar Earnings Report

<ul> <li>Nvidia Corp. stock on Tuesday...

Top Advisor from $34 Billion Firm Recommends Bitcoin (BTC) for Strategic Investment

Bitcoin continues to capture the attention of...

SemlerScientific (SMLR) Invests in Bitcoin (BTC), Driving Stock Surge

The growing trend of institutional Bitcoin adoption...

BlockDAG’s Keynote Spurs $34.7M Presales, Captivates Solana (SOL) and Litecoin (LTC) Investors

<ul> <li>BlockDAG’s keynote video has driven $34.7M in...

HTX Exchange (HT) Overtakes Coinbase in Spot Trading Volume, Setting New Benchmarks

HTX Exchange, formerly known as Huobi, recently...
spot_imgspot_imgspot_imgspot_img

PRO Analysis

Dogecoin (DOGE) Technical Analysis for May 28, 2024: Key Insights and Future Predictions

Dogecoin's recent price movements have captured the...

Massive GCR Hack: Meme Coin Plunge by 80% – GCR Price Analysis and Impact

The cryptocurrency market has been abuzz with...

Why Is Bitcoin (BTC) Dropping? Latest Analysis and Market Insights

<ul> <li>Bitcoin's recent decline is being...
Gideon Wolf
Gideon Wolfhttps://en.coinotag.com/
GideonWolff is a 27-year-old technical analyst and journalist with extensive experience in the cryptocurrency industry. With a focus on technical analysis and news reporting, GideonWolff provides valuable insights on market trends and potential opportunities for both investors and those interested in the world of cryptocurrency.
spot_imgspot_imgspot_imgspot_img

Nvidia (NVDA) Stock Soars Over 5% Following Stellar Earnings Report

<ul> <li>Nvidia Corp. stock on Tuesday jumped more than 5 percent in a volatile US stock market.</li> <li>The...

Choice Broking Recommends Buying These 7 High-Potential Stocks for Short-Term Gains: Expert Insights

<ul> <li>The Indian stock market has been fluctuating within a narrow range recently, reflecting investor anxiety ahead of the upcoming Lok...

Krystal Integrated ($KRY) Surges 5% on Robust Q4 Performance and Strong Order Book

<ul> <li>Krystal Integrated Services share price jumped over 5% on Tuesday's session after the firm reported its Q4 results.</li> ...