Stocks to Buy Today: Sumeet Bagadia Recommends BSE, Godfrey Phillips & 3 More for Strong Nifty 50 Gains

Breakout stocks to buy or sell: The Indian stock market started the week strong, influenced by positive global market trends and talks of a potential US Federal Reserve rate cut. On Monday, the Nifty 50 index rose by 27 points to close at 25,383, while the BSE Sensex gained 97 points, closing at 82,988. The Bank Nifty index also went up by 215 points, finishing at 52,153. In the broader market, the Small-cap index grew by 0.28%, and the Mid-cap index saw slight gains.

Stock recommendations by Sumeet Bagadia

Sumeet Bagadia, the Executive Director at Choice Broking, shared an optimistic view on the Indian stock market. He noted that even though the Nifty 50 has been hovering around the 25,400 level for a few days, he expects it to move towards the 25,750 to 25,800 zone. He highlighted that the 25,150 level is a key support point for the index. Bagadia also said that private bank stocks are showing strength and advised traders to focus on specific stocks for buying opportunities. He suggested that breakout stocks could be a good choice for intraday trading.

Bagadia recommended buying the following five breakout stocks:

1. BSE: Buy at ₹3431.80, with a target price of ₹3600. Set a stop loss at ₹3300.
2. Kanoria Chemicals: Buy at ₹172.50, target ₹182. Stop loss at ₹166.
3. Godfrey Phillips India: Buy at ₹8235.45, target ₹8700. Stop loss at ₹7950.
4. GM Breweries: Buy at ₹986.30, target ₹1040. Stop loss at ₹945.
5. International Conveyors: Buy at ₹93, target ₹98. Stop loss at ₹90.

Intraday trading strategy

For intraday trading, Bagadia recommended maintaining a “buy on dips” strategy as long as the Nifty 50 index remains above the 25,200 mark. He believes the Nifty is poised to move towards the 25,750 to 25,800 range in the near term.