Nifty 50 Crashes 368 Points: Sumeet Bagadia Recommends Top 5 Breakout Stocks to Buy Today, Including Kohinoor Foods and Vijaya Diagnostic

With weak global market trends due to rising tensions in the Middle East and concerns about funds shifting to China, the Indian stock market ended lower for the second consecutive session on Monday. The Nifty 50 index fell 368 points to close at 25,810, while the BSE Sensex dropped 1,272 points, finishing at 84,299.

The Nifty Bank index also declined by 856 points to close at 52,978. Cash market volumes on the NSE were down 32% compared to the previous day. Despite this, the Small-cap index ended slightly higher, even though the advance-decline ratio slipped to 0.67:1.

Sumeet Bagadia’s Stock Picks for Today

Sumeet Bagadia, Executive Director at Choice Broking, noted that the mood in the Indian stock market has become cautious after the Nifty 50 fell below the important 26,000 level on Monday. According to him, the index couldn’t overcome the resistance at 26,250 to 26,300 and now has key support at 26,650. If this level is broken, the Nifty 50 could slide to the 26,450 to 26,400 range. He suggested that investors focus on specific stocks that look strong based on technical analysis and recommended looking for breakout stocks for intraday trading.

Stock Market Outlook

Bagadia said, “After struggling around the 26,250 to 26,300 range, the Nifty 50 finally dropped below 26,000 and broke the critical support level between 26,850 to 26,900. Now, the next support is at 26,650. The stock market is expected to trade cautiously today as investors watch if the index holds above 26,650. If it breaks below this, it may head towards the 26,450 to 26,400 zone.”

Breakout Stocks to Buy Today

Bagadia recommended the following five stocks for buying today:

1. Kohinoor Foods: Buy at ₹51, target ₹64.50, stop loss ₹49.50;
2. Asian Hotels (East): Buy at ₹160, target ₹169, stop loss ₹154;
3. Saregama India: Buy at ₹625, target ₹666, stop loss ₹605;
4. VLS Finance: Buy at ₹427, target ₹455, stop loss ₹412;
5. Vijaya Diagnostic Centre: Buy at ₹960, target ₹1020, stop loss ₹925.