Election stocks to buy or sell: Sun TV to Pidilite — Sumeet Bagadia recommends five breakout stocks today

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Stocks to buy or sell: After the disappointing Lok Sabha Election 2024 results, the Indian stock market witnessed a heavy bloodbath on Tuesday. The Nifty 50 index witnessed the worst-ever intraday loss in over four years, as the 50-stock index crashed 1379 points and finished at 21,884.

However, despite this stock market crash, the Nifty FMCG index ended one percent higher, and some stocks managed to end higher. Some of them also gave a fresh breakout on the technical chart pattern.According to Sumeet Bagadia, Executive Director at Choice Broking, the volatility in the Indian stock market is expected to continue for a few more sessions.

The Choice Broking expert advised investors to look at those stocks that ended higher yesterday, as some breakout stocks still look positive on the chart pattern. Sumeet Bagadia recommended buying these five breakout stocks today: Godrej Consumer Products, Max India, Pidilite Industries, Sun TV, and McDowell-N or United Spirits.Speaking on the outlook for the Indian stock market, Sumeet Bagadia said, "The India VIX Index has broken below 25, and the Indian volatility index is expected to oscillate in the 20-25 range in the near term.

So, one can expect the volatility in the Indian stock market to continue for a few more sessions."He advised intraday traders and investors to maintain strict stop losses, saying, "The Nifty 50 index today has immediate support placed at 21,650 to 21,600 level, whereas the 50-stock index, which is crucial support, is now placed at 21,100 to 21,200 mark. On the upper side, Nifty today may face resistance at 22,250 to 22,300 zones."1] Godrej Consumer Products: Buy at CMP, target ₹1470, stop loss ₹1285;2] Max India: Buy at CMP, target ₹275 and ₹300, stop loss