Stock Market Dips: Sumeet Bagadia Recommends 5 Breakout Shares to Buy Today Amid Nifty 50 Slump

On Wednesday, the Indian stock market started slow but saw a strong recovery. However, the main market indices couldn’t fully bounce back and ended the day lower. The Nifty 50 index dropped by 122 points, closing at 24,918. The BSE Sensex fell by 398 points, finishing at 81,523, and the Bank Nifty index ended 262 points lower at 51,010. The Small-cap index declined by 0.57%, while the Mid-cap index went down by 0.52%.

Sumeet Bagadia’s Stock Advice

Sumeet Bagadia, Executive Director at Choice Broking, believes the Indian stock market has become cautious, as the Nifty 50 index has fallen below the important 25,000 level. According to him, the Nifty 50 is supported between 24,800 and 24,750, and if it breaks above 25,100 to 24,150, it could shift the market’s outlook to positive. He recommends a stock-specific approach while Nifty trades in this range and suggests buying certain breakout stocks for intraday trading.

Bagadia’s Top Stock Picks for Today:

Pioneer Embroideries

• Buy at ₹60.91
• Target: ₹64.50
• Stop loss: ₹58.50

Emmbi Industries

• Buy at ₹148.76
• Target: ₹157
• Stop loss: ₹143

Gokul Agro Resources

• Buy at ₹302.30
• Target: ₹320
• Stop loss: ₹291

Ester Industries

• Buy at ₹168.10
• Target: ₹177
• Stop loss: ₹161

Sandesh

• Buy at ₹1969.20
• Target: ₹2085
• Stop loss: ₹1896