Top Breakout Stocks to Watch: RVNL, RCF, Alembic, and More – Sumeet Bagadia’s Picks

Stocks to Buy or Sell: The Indian stock market began the week on a flat note with the Nifty 50 index dipping below 24,250 in the first half of the session. However, the market bounced back in the second half, closing near the day’s high with little change from the previous close.

Market Insight: Sumeet Bagadia, Executive Director at Choice Broking, noted that while the market is flat without significant triggers, the overall sentiment remains positive as long as Nifty trades above 24,000. He mentioned that Nifty faces resistance between 24,400 and 24,500, and breaking above 24,500 could start a new bull trend. Bagadia advised a stock-specific approach due to ongoing Q1FY25 results and Jerome Powell’s upcoming testimony in the US Senate.

Sumeet Bagadia’s Stock Recommendations for Today:

1. RVNL
   • Buy at: ₹566
   • Target: ₹599
   • Stop Loss: ₹545
2. RCF
   • Buy at: ₹228.40
   • Target: ₹240
   • Stop Loss: ₹220
3. Eveready Industries
   • Buy at: ₹403.65
   • Target: ₹425
   • Stop Loss: ₹388
4. Alembic
   • Buy at: ₹130.65
   • Target: ₹137
   • Stop Loss: ₹125
5. HPL
   • Buy at: ₹487.65
   • Target: ₹510
   • Stop Loss: ₹470

Bagadia suggests focusing on breakout stocks that show strong chart patterns for potential gains.