Stocks to buy: COLPAL to Havells — Sumeet Bagadia recommends 5 breakout stocks today — May 14

livemint.com:

Stoks to buy today: After weak opening during morning deals, the Indian stock market witnessed sharp recovery on Monday. All frontline indices ended higher whereas the broad market indices witnessed sharp upswing from the intraday low. The mid-cap index finished 0.36 percent higher whereas the small-cap index recovered 800 points from the intraday low.

In this recovery, some stocks broke the hurdle and gave technical breakout in this bounce back. A technical breakout refers to a situation when a stock's price moves above a resistance level, usually on high volume, signaling a potential upward trend. Sumeet Bagadia, Executive Director at Choice Broking listed out five breakout stocks that intraday traders may look at when the market opens on Tuesday.

Those five breakout stocks are Alkem Laboratories, COLPAL, Havells India, D Link (India), and Shaily Engineering. Providing his expert analysis on the outlook for the Indian stock market, Sumeet Bagadia stated, "The Indian stock market may continue to remain volatile as the India VIX Index has broken above the 19 hurdle and it may soon touch the 25 level in the near term. The volatile index may touch 28 and 30 mark once it breaches the 25 hurdle decisively." Regarding the outlook for the Nifty 50 today, Bagadia emphasized, "The 50-stock index has crucial support at 21,750 to 21,800 levels and this support has proven to be steadfast in the recent fall.