The Indian stock market continued its winning streak, closing higher for the twelfth consecutive session last Friday. The Nifty 50 index achieved its best run since its inception in 1996, gaining for 12 days straight. On the day, the Nifty 50 closed 83 points higher at 25,235, while the BSE Sensex rose by 231 points to end at 82,365. The Nifty Bank index also saw an increase of 198 points, finishing at 51,351.
Sumeet Bagadia’s Stock Picks
Sumeet Bagadia, Executive Director at Choice Broking, believes the Indian stock market is currently in a positive trend. He noted that the Nifty 50 index has remained above the 25,000 mark and could reach 25,550 to 25,600 if it surpasses the minor resistance at 25,300. He identified key support levels for the Nifty at 24,900 and 24,100.
According to Bagadia, many indices are either at record highs or close to setting new records. In this scenario, he suggests focusing on specific breakout stocks for intraday trading.
Five Breakout Stocks to Buy Today
Here are five stocks recommended by Sumeet Bagadia for potential buying opportunities:
- Plastiblends India:
- Buy at ₹359.20
- Target: ₹377
- Stop Loss: ₹345
- Paytm:
- Buy at ₹621.90
- Target: ₹653
- Stop Loss: ₹599
- Arihant Capital Markets:
- Buy at ₹88.76
- Target: ₹93.50
- Stop Loss: ₹85.50
- Heubach Colorants India:
- Buy at ₹588
- Target: ₹622
- Stop Loss: ₹568
- ADSL:
- Buy at ₹265
- Target: ₹280
- Stop Loss: ₹256
These stocks are expected to perform well based on current market trends and technical analysis.
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.
