After a 14-day winning streak, the Indian stock market fell for the second day in a row on Thursday. The Nifty 50 index dropped 53 points to close at 25,145, the BSE Sensex lost 151 points to end at 82,201, while the Bank Nifty index rose 72 points to finish at 51,473. Trading volumes on the NSE were 4.2% higher than the day before. The broader market indices were positive, with more stocks advancing than declining, showing an advance-decline ratio of 1.44:1.
Stock Picks by Sumeet Bagadia
Sumeet Bagadia, Executive Director at Choice Broking, says the Indian stock market is currently cautious but leaning towards positive. He notes that the Nifty 50 is still above the key level of 25,000, and the index is holding around 25,150, which could signal a trend reversal or a bounce back. He recommends a “buy on dips” strategy as long as the Nifty 50 stays above 25,000. Bagadia also suggests focusing on specific stocks that show breakout potential.
For today’s breakout stock picks, Sumeet Bagadia recommends buying these five shares:
- Nectar Lifesciences: Buy at ₹46.93, target price ₹50, stop loss at ₹45.
- Ashoka Buildcon: Buy at ₹273, target price ₹288, stop loss at ₹263.
- Alpa Laboratories: Buy at ₹121.60, target price ₹129, stop loss at ₹117.
- SEPC: Buy at ₹30.14, target price ₹32, stop loss at ₹29.
- Nandan Denim: Buy at ₹51.74, target price ₹54.50, stop loss at ₹49.50.
These stocks are recommended for investors looking for breakout opportunities in the market today.
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.
