Breakout stocks to buy or sell: Sumeet Bagadia recommends five shares to buy

Stock market today: Sumeet Bagadia of Choice Broking believes that overall Indian stock market bias has turned cautious as the Nifty 50 index has once again slipped below the psychological 25,000 mark. (MINT)
Stock market today: Sumeet Bagadia of Choice Broking believes that overall Indian stock market bias has turned cautious as the Nifty 50 index has once again slipped below the psychological 25,000 mark. (MINT)

Summary

  • Breakout stocks to buy or sell: Sumeet Bagadia recommends five shares to buy today — Pioneer Embroideries, Emmbi Industries, Gokul Agro, Ester Industries, and Sandesh

Breakout stocks to buy or sell: After a subdued start, the Indian stock market registered a strong recovery on Wednesday. However, the frontline indices failed to recover the losses and ended lower. The Nifty 50 index finished 122 points lower at the 24,918 mark, the BSE Sensex corrected 398 points and closed at 81,523, whereas the Bank Nifty index ended 262 points lower at 51,010. In the broad market, the Small-cap index crashed 0.57 per cent, while the Mid-cap index ended 0.52 per cent lower.

Sumeet Bagadia's stock recommendations today

Sumeet Bagadia, Executive Director at Choice Broking, believes that overall Indian stock market bias has turned cautious as the Nifty 50 index has once again slipped below the psychological 25,000 mark. The Choice Broking expert said that 24,800 to 24,750 supports the 50-stock index, and a decisive breach above 25,100 to 24,150 is expected to improve Dalal Street bias. He advised a stock-specific approach till Nifty is in the 24,750 to 25,150 zone and suggested buying breakout stocks for intraday trading.

Regarding breakout stocks to buy today, Sumeet Bagadia recommended buying these five shares: Pioneer Embroideries, Emmbi Industries, Gokul Agro Resources, Ester Industries, and Sandesh.

Sumeet Bagadia's stocks to buy today

1] Pioneer Embroideries: Buy at 60.91, target 64.50, stop loss 58.50;

2] Emmbi Industries: Buy at 148.76, target 157, stop loss 143;

3] Gokul Agro Resources: Buy at 302.30, target 320, stop loss 291;

4] Ester Industries: Buy at 168.10, target 177, stop loss 161; and

5] Sandesh: Buy at 1969.20, target 2085, stop loss 1896.

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 any investment decisions, as market conditions can change rapidly and individual circumstances may vary.

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