Stocks to buy or sell: ITDC to Elecon Engineering — Sumeet Bagadia recommends five breakout stocks today

livemint.com:

Stocks to buy or sell: The Indian stock market snapped its two-day fall and ended northward on Wednesday. This means that the market, after a period of decline, started to move upwards again. The Nifty 50 index went up 58 points and closed at 23,322, while the BSE Sensex scaled 149 points and finished at 76,606.

During Wednesday's trade, the 50-stock index climbed to a new peak of 23,441. The Bank Nifty index, which tracks the performance of the banking sector, ended 189 points higher at 49,895. Among the frontline indices, the Nifty 50 index touched a new peak of 23,441.

Cash market volumes on the NSE, which is the National Stock Exchange of India, fell minorly to ₹1.20 lakh crore. The broad market indices, which track the performance of a wide range of stocks, rose more than a percent even as the advance-decline ratio, which measures the number of advancing stocks relative to the number of declining stocks, rose to 2.05:1.According to Sumeet Bagadia, Executive Director at Choice Broking, many stocks showed fresh breakouts in the chart pattern. These breakout stocks, still available at attractive levels, present a promising opportunity for intraday traders during Thursday deals.