Breakout stocks to buy or sell: Indian benchmarks – Sensex and Nifty 50 – closed largely unchanged on Tuesday, December 23, amid profit booking at higher levels, capped gains.
Meanwhile, mid- and small-cap stocks posted modest gains amid mixed global signals. The Sensex slipped 43 points, or 0.05%, to settle at 85,524.84, while the Nifty 50 edged up 5 points, or 0.02%, to end at 26,177.15.
Stock market today
Sumeet Bagadia, Executive Director at Choice Broking, believes the Nifty 50 opened on a positive note but traded largely sideways, indicating consolidation near the resistance level.
Speaking on the outlook of the Nifty 50 index, Sumeet Bagadia said, “The index briefly crossed 26,200 but failed to sustain higher levels due to a lack of follow-through buying. Immediate resistance lies at 26,250–26,300, while support is placed at 26,000–26,050. The daily RSI at 58.70 is moving sideways, reflecting neutral momentum. Volatility eased as India VIX fell 3.07% to 9.377. Derivatives data highlights heavy call writing and strong put interest at 26,200, marking it as a key pivot. Holding above 26,000 keeps a selective buy-on-dips strategy favourable with strict stop-losses at 25920.”
On the outlook of the Bank Nifty today, Bagadia said, “The Bank Nifty opened on a flat note and traded within a narrow range of 59,200–59,400 throughout the session, indicating indecision and consolidation following recent gains.”
“This price behaviour suggests that intraday declines are being absorbed by buyers, keeping the broader trend constructive. Immediate resistance is placed in the 59,500–59,600 zone, while supports at 59,000 and 59,100 remain crucial for sustaining near-term stability in banking stocks. On the daily charts, the RSI stands at 55.99 and is trending sideways, suggesting neutral momentum without a clear directional bias,” Bagadia said.
The Choice Broking expert suggested that investors remain selective, adopt a buy-on-dips approach near supports, and wait for a decisive breakout above resistance to establish fresh directional positions.
Breakout stocks to buy today
Breakout stocks are those stocks that move past their established support or resistance levels. Breakouts often signal that a stock may be poised for a strong price move.
Amid ongoing market condition, Sumeet Bagadia has recommended five breakout shares to buy today – GMR Airports, NLC India, JK Tyre & Industries, Affle 3i, and Sarda Energy & Minerals.
1] GMR Airports: Buy at ₹104.89, target ₹115, stop loss ₹99.70
GMRAIRPORT is trading around ₹104.89 and continues to form a higher high–higher low pattern, indicating strength. The stock shows a rounding formation and is trading above its 20, 50, 100, and 200-day EMAs, supporting the uptrend. Immediate resistance is near ₹105; a breakout may extend gains. Strong support lies near the prior swing aligned with the 20-day EMA. RSI at 59.94 signals improving momentum. Traders may buy at current levels, targeting ₹115 with a stop loss at ₹99.70, following prudent risk management.
2] NLC India: Buy at ₹251.90, target ₹275, stop loss ₹240
NLCINDIA is trading around ₹251.90 and is showing strength after taking firm support near its previous weekly trendline breakout, followed by an upward move. Immediate resistance is placed at ₹252–253; a decisive breakout could strengthen the uptrend. On the downside, support lies at ₹245–243, indicating accumulation. RSI at 66.65 reflects positive momentum. Traders may consider buying at current levels with a target of ₹275 and a stop loss at ₹240, adhering to disciplined risk management.
3] JK Tyre & Industries: Buy at ₹510.30, target ₹550, stop loss ₹488
JKTYRE is trading around ₹510.30 and is showing strength after a sideways range breakout, indicating potential continuation of the uptrend. The stock is forming a higher high–higher low structure and is trading above its 20, 50, 100, and 200 EMAs, confirming bullish momentum. RSI at 77.93 supports trend continuation. Traders may consider buying at current levels, targeting ₹550 with a stop loss at ₹488, following proper risk management.
4] Affle 3i: Buy at ₹1766, target ₹1910, stop loss ₹1690
AFFLE is trading around ₹1,766 and maintains a higher high–higher low structure on the weekly chart, indicating strength. The stock has consolidated after taking strong support near ₹1,700 and is now moving higher. RSI at 68.11 signals sustained momentum. Immediate resistance lies at ₹1,800; a breakout may trigger further upside. Traders may buy at current levels, targeting ₹1,910 with a stop loss at ₹1,690, following disciplined risk management.
5] Sarda Energy & Minerals: Buy at ₹530.25, target ₹570, stop loss ₹508
SARDAEN is trading around ₹530.25 and continues to form a higher high–higher low structure on the weekly chart, reflecting a strong long-term uptrend. The stock has taken solid support near the 100-day EMA at ₹515 and is moving higher after a resistance breakout. RSI at 69.75 signals strong momentum. Traders may consider buying at current levels with a target of ₹570 and a stop loss at ₹508, following disciplined risk management.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.