Breakout stocks to buy or sell: Sumeet Bagadia recommends five shares to buy today — February 7, 2025

Breakout stocks to buy or sell: India's stock market benchmarks, the Sensex and Nifty 50, continued their losing streak for a second straight session on Thursday, February 6, as investors awaited the Reserve Bank of India's (RBI) monetary policy decision on Friday.

The Sensex closed at 78,058.16, declining by 213 points or 0.27%, while the Nifty 50 finished at 23,603.35, down 93 points or 0.39%.

Over the past two sessions, the Sensex has dropped by 526 points (0.70%), while the Nifty 50 has fallen by 136 points (0.60%).

Sumeet Bagadia's breakout stock recommendations

Sumeet Bagadia, Executive Director at Choice Broking, believes that the Indian stock market has adopted a cautious stance again, with the Nifty 50 index dipping below the 50-day exponential moving average (DEMA) of approximately 23,650, after encountering profit-booking near its resistance zone of 23,750 to 23,800.

On the outlook for the Indian stock market today, Sumeet Bagadia said, “The 50-stock index may slip close to its crucial support placed at 23,300 once it branches below it's immediate support placed at 23,500 mark. Hence, I advise investors to maintain a stock-specific approach and look at those stocks that are looking strong in the technical chart. Looking at breakout stocks can be a good option for intraday trading.”

Regarding breakout stocks for intraday trading, Sumeet Bagadia recommended buying these five shares today: Maharashtra Seamless, Emcure Pharmaceuticals, Aegis Logistics, Natco Pharma, and Redington.

Stocks to buy today

1] Maharashtra Seamless: Buy at ₹654.30, target ₹700 , stop loss ₹631;

2] Emcure Pharmaceuticals: Buy at ₹1,285.25, target ₹1,375, stop loss ₹1,240;

3] Aegis Logistics: Buy at ₹813, target ₹870, stop loss ₹784;

4] Natco Pharma: Buy at ₹1,328, target ₹1,421, stop loss ₹1,281;

5] Redington: Buy at ₹228, target ₹244, stop loss ₹220.

Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making investment decisions, as market conditions can change rapidly, and individual circumstances may vary.