Breakthrough Stocks to Buy or Sell: NIIT and Syrma SGS Technology – Sumit Bagadia picks five stocks to buy today

Indian stock market indices Sensex and Nifty 50 have witnessed a sharp pullback in the last two sessions, driven by positive signals from global markets. Markets reacted sharply to the results of the 2024 US elections, in which Donald Trump will become the next US President.

On Wednesday, domestic stock indices Sensex and Nifty 50 witnessed strong buying after opening with a gap and ended the session on a positive note. The Sensex rose 901.50 points, or 1.13 per cent, to close at 80,378.14, while the Nifty 50 index closed 270.75 points, or 1.12 per cent, at 24,484.05. The Midcap and Smallcap indices outperformed their benchmarks, rising more than 2% each. All sectoral indices finished trading in positive territory.

Sumit Bagadia’s shares can be bought today

Sumit Bagadia, executive director, Choice Broking, noted that on the daily chart, the Nifty 50 index formed an inside bar candle in the previous session, signaling consolidation and uncertainty. According to him, if the index holds above 24,500, it could potentially move towards the 24,750 level. Conversely, a break below 24,200 could lead to further declines.

Speaking on the outlook for the Indian stock market today, Sumit Bagadia said, “Indian stock market bias has improved following the 3% gain witnessed by the Nifty 50 index in the last two consecutive sessions. However, the 50-share index needs to close above 24,500 for the Dalal Street bias to turn positive. Until then, investors are advised to take a stock-specific approach, paying particular attention to breakout stocks.”

In terms of breakout stocks to buy today, Sumit Bagadia has recommended these five stocks to buy: NIIT, Kaynes Technology India, Gokul Refoils & Solvents, Shaily Engineering Plastics and Syrma SGS Technology.

Stocks you can buy today

1) NIIT: Buy at ₹192.56; Target ₹203; Stop loss: ₹185

2) Kaynes Technology India: Buy at ₹5872.95; Target ₹6222; Stop loss: ₹5,680

3) Refoils and Gokul solvents: Buy at ₹66.51; Target ₹70.50; Stop loss: ₹64.50

4) Shaili Engineering Plastics: Buy at ₹1155.65; Target ₹1250; Stop loss: ₹1111

5) Syrma SGS technology: Buy at ₹554.15; Target ₹585; Stop loss: ₹535

Disclaimer: The opinions and recommendations expressed in this article are those of the individual analysts. They do not reflect the views of Mint. We advise investors to consult with certified experts before making any investment decisions.