Breakout stocks to buy or sell: Sumeet Bagadia recommends five shares to buy
"Derivatives data additionally points towards a cautious near-term setup, with PCR at 0.81 and India VIX at 11.3875, indicating a marginal rise in volatility. While Put writing around 24, 200-24, 150 offers some backing, call writing remains concentrated around 24,…
What happened
"Derivatives data additionally points towards a cautious near-term setup, with PCR at 0.81 and India VIX at 11.3875, indicating a marginal rise in volatility. While Put writing around 24, 200-24, 150 offers some backing, call writing remains concentrated around 24, 200-24, 300, keeping this zone as an immediate hurdle. Hence, 24, 000-24, 150 remains the crucial downside zone, and holding this area will be significant to prevent further weakness. On the upside, 24, 270-24, 350 is the key resistance band, and a sustained move above this zone could provide some improvement in the short-term structure, " remarked Sumeet Bagadia, Executive Director at Choice Broking.
The bottom line
For now, breakout stocks to buy or sell: Sumeet Bagadia recommends five shares to remains the part of the story worth watching, and further updates are likely as more details are confirmed.
