The Indian stock market closed higher this week despite moving sideways most of the time. The Nifty 50 index ended at 24,823, gaining 283 points or 1.15% for the week. The BSE Sensex gained 650 points or 0.80%, closing at 81,086. Bank Nifty also rose by 0.83% to finish at 50,933. In broader markets, Small-cap and Mid-cap stocks performed even better, with Small-caps up by 3.40% and Mid-caps by 1.95% last week.
Sumeet Bagadia’s Stock Picks for Today
Sumeet Bagadia, Executive Director at Choice Broking, expects the Indian stock market to react positively following US Fed Chair Jerome Powell’s indication of a potential rate cut in September. He believes the Nifty 50 could soon hit 25,000 if it surpasses the 24,800 to 24,850 range.
However, Bagadia advises investors to be careful, as many indices are trading at high levels. He recommends focusing on specific breakout stocks for intraday trading. For today’s trades, Bagadia suggests buying the following five breakout stocks:
- SMS Pharma: Buy at ₹357, target ₹377, stop loss ₹345.
- Rane Engine: Buy at ₹646, target ₹680, stop loss ₹623.
- Albert David: Buy at ₹1439, target ₹1505, stop loss ₹1385.
- PCBL: Buy at ₹500, target ₹526, stop loss ₹482.
- Uflex: Buy at ₹844.80, target ₹892, stop loss ₹817.
These stocks have potential for growth today, so consider adding them to your watchlist!
Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.
