Stockgram

Breakout stocks buy or sell: Indian benchmark indices experienced significant volatility during trading on Monday, June 2. Despite a weak start, buying activity by bulls helped stocks rebound from early losses, allowing the markets to end the day with only slight declines.

The Nifty 50 pared losses to close down by just 0.14% at 24,716, recovering 189 points from its intraday low. Similarly, the Sensex trimmed its early losses and ended the session marginally lower by 77 points, or 0.09%, at 81,373.

Sumeet Bagadia, Executive Director at Choice Broking, believes that despite strong selling during early morning deals on Monday, the key Indian benchmark indices pares the kisses and ended flat, keeping the overall Indian stock market sentiment positive.

Speaking on the outlook of Indian stock market, Bagadia said, “ The Nifty 50 index is trading above 24,500 and facing resistance at 25,000. On breaking above 25,000, the 50-stock index may soon touch 25,400. So, one should maintain stock-specific approach and look at those stocks that are looking strong on the technical chart. Looking at breakout stocks can be a good option."

Sumeet Bagadia recommends five shares to buy today — Jubilant Ingrevia, IDBI Bank, SBFC Finance, JM Financial, and City Union Bank.

1] Jubilant Ingrevia: Buy at ₹734.05, target ₹786, stop loss ₹708;

2] IDBI Bank: Buy at ₹101.27, target ₹110, stop loss ₹97;

3] SBFC Finance: Buy at ₹114.48, target ₹123, stop loss ₹110;

4] JM Financial: Buy at ₹133.73, target ₹143, stop loss ₹129;

5] City Union Bank: Buy at ₹198.64, target ₹213, stop loss ₹192.

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.

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