Indian Stock Market Ends Flat Amid Profit Booking
The Indian stock market concluded Friday's trading session on November 28 with minimal changes as investors opted to secure profits at elevated levels. Market participants maintained a cautious approach ahead of the crucial Q2 GDP data release, while mixed signals from global markets failed to provide clear directional cues.
The benchmark Sensex settled marginally lower by 14 points at 85,706.67, reflecting a minor decline of 0.02%. Similarly, the Nifty 50 index experienced a slight dip of 13 points to close at 26,202.95, down 0.05%. The broader market indices also witnessed modest declines, with the BSE Midcap index easing 0.04% and the Smallcap index declining 0.13%.
Expert Market Outlook and Breakout Stock Strategy
Sumeet Bagadia, Executive Director at Choice Broking, maintains a positive outlook on Indian stock market sentiment, provided the Nifty 50 index sustains above the 26,000 level. "The 50-stock index has established a solid foundation in the 25,800-25,750 range and appears positioned to reach 26,500," Bagadia stated.
He further elaborated that once the index closes above this level consistently, market watchers can anticipate the benchmark reaching the 27,200 mark in the near term. Bagadia emphasized adopting a stock-specific approach and focusing on technically strong counters, particularly those showing breakout patterns.
Five Breakout Stock Recommendations
Bagadia has identified five breakout stocks that present potential buying opportunities for investors:
Acutaas Chemicals: Consider buying at ₹1,837 with a target price of ₹1,985 and a stop loss set at ₹1,777.
Senores Pharmaceuticals: Purchase at ₹823, aiming for a target of ₹888 while maintaining a stop loss at ₹795.
Latent View Analytics: Buy at ₹498 with a target of ₹535 and a protective stop loss at ₹480.
Zaggle Prepaid Ocean Services: Acquire at ₹392, targeting ₹420 with a stop loss positioned at ₹380.
Dr. Agarwal's Health Care: Purchase at ₹533, looking for a target of ₹575 while keeping a stop loss at ₹515.
Important Disclaimer: This content serves educational purposes exclusively. The views and stock recommendations expressed belong to individual analysts or brokerage firms and do not represent Mint's立场. Investors should consult certified experts before making any investment decisions.
