Stock market crash: Sumeet Bagadia recommends 5 breakout stocks to buy despite India VIX index rising 50% in one month

Sumeet Bagadia connected India VIX today

The Choice Broking expert, Sumeet Bagadia, maintains a affirmative outlook connected the India VIX Index, besides known arsenic the fearfulness gauge. He sees it arsenic an denotation of the fearfulness origin existing successful the marketplace up of the Lok Sabha predetermination results. However, helium reassures that the fearfulness origin exising successful banal marketplace contiguous is not that dense arsenic specified emergence are mean for Dalal Street investors. He points retired that the India VIX Index, which measures the market's anticipation of volatility implicit the adjacent 30 days, touched a precocious of 39.30 during 2014 Lok Sabha elections whereas it touched astir 30 people during 2019 Lok Sabha polls. He further elaborated that India VIX surged to 92 levels during banal marketplace clang successful 2008 whereas it touched 86.63 highest erstwhile the Indian banal crashed successful 2020 aft the outbreak of COVID pandemic.

Speaking connected the India VIX Index, Sumeet Bagadia said, "India VIX contiguous is facing absorption astatine 19 levels whereas it has made a beardown basal astir 17. On breaching 19 hurdle, the scale whitethorn interaction 22 people whereas connected breaching beneath 17, we tin expect the volatility scale to travel down towards 14 to 12 level."

Breakout stocks to bargain today

On breakout stocks to bargain today, Sumeet Bagadia recommended 5 shares to bargain contiguous — Selan, Arvind, CG Power, Gillette, and Godrej Consumer Products Here we database retired afloat details regarding breajout stocks today:

1] Selan: Buy astatine CMP, people ₹750, halt nonaccomplishment ₹686;

2] Arvind: Buy astatine CMP, people ₹380 and ₹400, halt nonaccomplishment ₹344;

3] CG Power: Buy astatine CMP, people ₹660, halt nonaccomplishment ₹540;

4] Godrej Consumer Products: Buy astatine CMP, people ₹1440, halt nonaccomplishment ₹1260; and

5] Gillette: Momentum bargain astatine CMP, people ₹7327, halt nonaccomplishment ₹6548.

Disclaimer: The views and recommendations provided successful this investigation are those of idiosyncratic analysts oregon broking companies, and not Mint. We powerfully counsel investors to consult with certified experts earlier making immoderate concern decisions, arsenic marketplace conditions tin alteration rapidly and idiosyncratic circumstances whitethorn vary.

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Published: 08 May 2024, 11:53 AM IST