Sumeet Bagadia Recommends 5 Hot Stocks to Buy Amid Market Rebound

Despite rising tension in the Russia-Ukraine conflict, the Indian stock market ended its seven-day losing streak on Tuesday. The Nifty 50 closed 64 points higher at 23,518, the Sensex added 239 points to settle at 77,578, and the Nifty Bank rose 262 points to 50,626. Broader market indices performed even better, with an improved advance-decline ratio of 1.92:1. However, concerns about the war possibly escalating in Europe triggered some afternoon profit-booking.

Expert Advice for Traders

Sumeet Bagadia, Executive Director at Choice Broking, suggests a cautious yet optimistic approach for traders. He highlights that the market’s bias is currently sideways to positive. The Nifty 50 needs to break and sustain above 23,750 for the sentiment to turn decisively bullish. Exit polls predicting NDA’s win in Maharashtra and Jharkhand elections are also likely to boost market morale.

Bagadia advises traders to avoid morning sell positions and adopt a stock-specific strategy. For intraday trading, he recommends focusing on stocks with strong breakout potential.

Bagadia’s Top Stock Picks Today

Here are five breakout stocks Bagadia recommends for buying:

1. Aries Agro:
   • Buy at ₹317.95
   • Target: ₹339
   • Stop Loss: ₹305
2. AARON Industries:
   • Buy at ₹311.70
   • Target: ₹330
   • Stop Loss: ₹299
3. Jash Engineering:
   • Buy at ₹554.90
   • Target: ₹590
   • Stop Loss: ₹534
4. Arvind Smartspaces:
   • Buy at ₹936
   • Target: ₹990
   • Stop Loss: ₹900
5. PG Electroplast:
   • Buy at ₹675.90
   • Target: ₹730
   • Stop Loss: ₹650

Bagadia encourages traders to remain vigilant, wait for a clear breakout above 23,750, and seize opportunities in technically strong stocks for better gains.