Stocks to Buy or Sell: Sumeet Bagadia’s Recommendations

Despite global market weakness, the Indian stock market continued to rise on Thursday. The Nifty 50 index ended 175 points higher at 20,044, reaching a new peak of 24,087. The BSE Sensex finished 568 points higher at 79,243, hitting a record high of 79,396. However, the Nifty Bank index lost early gains, ending 59 points lower at 52,811 after touching a new high of 53,180. The broader markets underperformed the Nifty 50, with the advance-decline ratio falling sharply to 0.48:1.

Sumeet Bagadia, Executive Director at Choice Broking, expects the Indian stock market to trade within a range today as investors await US inflation data. Bagadia noted that the Nifty 50 index staying above 24,000 is crucial. If it remains above 23,900, it could soon reach 23,400 to 23,500, providing a stable trading environment.

Breakout Stocks Today

For intraday trading on Friday, Sumeet Bagadia advised focusing on breakout stocks that show positive chart patterns. He highlighted five stocks that have shown fresh breakouts and are still looking strong. Here are his recommendations:

1. Indo Amines
   • Buy at: ₹142.58
   • Target: ₹150
   • Stop Loss: ₹137.50
2. Hindustan Composites
   • Buy at: ₹509.50
   • Target: ₹535
   • Stop Loss: ₹490
3. KDDL
   • Buy at: ₹3174.85
   • Target: ₹3550
   • Stop Loss: ₹3070
4. Route Mobile
   • Buy at: ₹1879.55
   • Target: ₹1985
   • Stop Loss: ₹1810
5. LG Balakrishnan & Brothers
   • Buy at: ₹1424.70
   • Target: ₹1500
   • Stop Loss: ₹1370

Market Outlook Today

Sumeet Bagadia predicts a range-bound trading day for the Indian stock market as investors wait for the US inflation data, which will be released after the Indian market closes. He emphasized the importance of watching the Nifty movement during Friday’s trading. If the Nifty 50 index stays above 23,900 in the first hour, it could soon reach the 23,400 to 23,500 range.