Breakout stocks today: PNB, Power Grid to Adani Power — Anand Rathi recommends these five stocks to buy today

Ganesh Dongre, Senior Manager — Technical Research astatine Anand Rathi believes that the Nifty 50 scale is facing a hurdle astatine 22,800 to 22,900 levels portion it has contiguous enactment placed astatine 22,500 to 22,600 level. Dongre said that the Nifty 50 scale is successful overbought information and the Indian banal marketplace whitethorn stay sideways to affirmative till the 50-stock scale is successful the 22,500 to 22,900 range. He advised investors to travel banal stock-specific attack arsenic a bully fig of prime stocks person fixed breakouts connected the method chart.

Stock marketplace today

Speaking connected the outlook for the Indian banal marketplace today, Ganesh Dongre of Anand Rathi said, "On the Nifty front, we whitethorn spot profit-booking successful the 50-stock scale arsenic the scale is successful an overbought condition. Support for Nifty contiguous is 222,500 whereas it is facing a hurdle astatine 22,800 to 22,900 zones. On the Bank Nifty front, enactment for the scale is placed astatine the 48,000 level and absorption volition beryllium astatine the 49,500 level." Bullish oregon bearish trends successful the 2 frontline indices tin beryllium assumed connected breakage of either broadside of the range.

Breakout stocks to bargain today

Advising banal stock-specific attack successful the existent marketplace scenario, the Anand Rathi adept listed 5 stocks that person fixed a decisive breakout connected the method chart. Those 5 breakout stocks are Punjab National Bank (PNB), Bank of Baroda (BoB), Adani Power, Bajaj Finserv, and Power Grid Corporation of India.

Stocks to bargain today

1] PNB: Breakout astatine ₹135, people ₹155, halt nonaccomplishment ₹134;

2] Bank of Baroda: Breakout astatine ₹265, people ₹298, halt nonaccomplishment ₹268;

3] Adani Power: Breakout astatine ₹595, people ₹645, halt nonaccomplishment ₹590;

4] Bajaj Finserv: Breakout astatine ₹1575, people ₹1670, halt nonaccomplishment ₹1575; and

5] Power Grid Corporation of India: Breakout astatine ₹295, people ₹315, halt nonaccomplishment ₹292.

Ganesh Dongre of Anand Rathi said that investors tin support bargain connected dips till the fixed people oregon halt nonaccomplishment is not triggered.

Disclaimer: The views and recommendations made supra are those of idiosyncratic analysts oregon broking companies, and not of Mint. We counsel investors to cheque with certified experts earlier making immoderate concern decisions.

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Published: 02 May 2024, 10:44 AM IST