The Indian stock market is trading in a range with an upside bias and the benchmark Nifty 50 is seen consolidating near the 23,550 zone.
Sumeet Bagadia, Executive Director at Choice Broking believes some breakout stocks still look attractive for intraday trading.
He advised day traders to look at those breakout stocks today.
Sumeet Bagadia’s stock recommendationsSumeet Bagadia advised day traders to watch out for five breakout stocks to buy today.
These breakout stocks to buy include Ashoka Buildcon, NOCIL, Mahindra Holidays & Resorts India, Quick Heal Technologies and Kaveri Seed Company.
The Indian stock market is trading in a range with an upside bias and the benchmark Nifty 50 is seen consolidating near the 23,550 zone. For the last five consecutive days, Nifty has been trading in the 23,400 to 23,700 range and the index has formed an inside candle on the daily chart, indicating a sideways trend.
On Thursday, the domestic equity indices closed higher amid volatility, with the Nifty holding above 23,550 level. The Sensex rose 141.34 points to close at 77,478.93, while the Nifty 50 settled 51.00 points, or 0.22%, higher at 23,567.00.
Amid high volatility on Thursday, certain stocks gave a fresh breakout. This means these stock prices moved above a significant resistance level on the chart pattern. Sumeet Bagadia, Executive Director at Choice Broking believes some breakout stocks still look attractive for intraday trading. He advised day traders to look at those breakout stocks today.
Also Read: Stock market today: Trade setup for Nifty 50, five stocks to buy or sell on Friday - June 21
Stock market today
According to analysts at Choice Broking, if the Nifty closes above the 23,700 level, it could further rise to the 23,800 and 24,000 levels. Conversely, immediate support levels for the Nifty index are at 23,400 and 23,300.
Sumeet Bagadia’s stock recommendations
Sumeet Bagadia advised day traders to watch out for five breakout stocks to buy today. These breakout stocks to buy include Ashoka Buildcon, NOCIL, Mahindra Holidays & Resorts India, Quick Heal Technologies and Kaveri Seed Company.
Also Read: Chandan Taparia recommends three stocks to buy today
1] Ashoka Buildcon: Buy at ₹243.82; Target: ₹260; Stop Loss: ₹235
2] NOCIL: Buy at ₹308.9; Target: ₹325; Stop Loss: ₹299
3] Mahindra Holidays & Resorts India: Buy at ₹474.85; Target: ₹505; Stop Loss: ₹460
4] Quick Heal Technologies: Buy at ₹543.4; Target: ₹575; Stop Loss: ₹530
5] Kaveri Seed Company: Buy at ₹1,015.15; Target: ₹1,070; Stop Loss: ₹980
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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