Stock Market Today: Sumeet Bagadia’s Top 5 Breakout Stocks to Buy Amid Nifty 50 Surge | Intraday Trading Tips

Despite mixed trends in Asian markets and a dip in European stocks, the Indian stock market continued its upward trend for the 13th consecutive session. The Nifty 50 index closed 37 points higher at 25,273, the BSE Sensex rose by 194 points to finish at 82,559, and the Bank Nifty index gained 71 points, closing at 51,422. Trading volumes on the NSE were relatively low at ₹1.11 lakh crore. While broader market indices were slightly down, the advance-decline ratio was almost even at 0.98:1.

Sumeet Bagadia’s Stock Picks for Today

Sumeet Bagadia, Executive Director at Choice Broking, believes that the Indian stock market’s overall trend is positive. He expects the Nifty 50 index to reach 25,550 to 25,600 in the near future, with strong support at 24,900. Bagadia suggests adopting a buy-on-dips strategy as long as the index stays above the 25,000 mark. He also predicts that Bank Nifty might trade within a range of 51,000 to 52,000, and a clear trend will emerge if this range is broken.

Bagadia advises investors to focus on specific stocks showing strong breakout potential for intraday trading. Here are the five stocks he recommends buying today:

Stocks to Buy Today

1. Deep Energy: Buy at ₹259.40, with a target of ₹273 and a stop loss of ₹250.
2. Munjal Auto: Buy at ₹124, with a target of ₹131.50 and a stop loss of ₹119.50.
3. ISFT: Buy at ₹175.16, with a target of ₹184 and a stop loss of ₹168.
4. Cybertech Systems: Buy at ₹288.10, with a target of ₹307 and a stop loss of ₹281.
5. Dhunseri Investments: Buy at ₹1771.80, with a target of ₹1865 and a stop loss of ₹1710.

Bagadia’s recommendations are based on the current market trend, and he suggests a cautious but optimistic approach to trading.