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

Stock market today: Following weak global sentiment over Trump's tariffs, the Indian stock market crashed on Wednesday. However, the Nifty 50 index recovered strongly after falling below 25,000. The key benchmark index finished 75 points lower at 25,157, the BSE Sensex shed 270 points and closed at 81,909, whereas the Bank Nifty index crashed 603 points and closed at 58,800. The stock market crash witnessed on Wednesday was across segments. The Small-cap index nosedived 0.80%, while the Mid-cap index fell by over 1%.

Stock market today

Sumeet Bagadia, Executive Director at Choice Broking, believes the Indian stock market's bias remains weak despite a strong recovery following Wednesday's market crash. The Choice Broking expert said the Nifty 50 index breached the 200-DEMA support at 25,000, but regained the psychological 25,000 level and finished at 25,157. However, this is not enough to boost bulls' sentiments. To improve sentiment in the Indian stock market, the Nifty 50 index needs to close above 25,500.

Speaking on the outlook of the Nifty 50 index, Sumeet Bagadia said, 'The Nifty 50 index failed to sustain at higher levels and closed 75 points lower at 25,157, indicating persistent selling pressure and a weak undertone. Immediate resistance is placed in the 25,250-25,300 zone, while support is seen at 25,000–25,050. The daily RSI stands at 27.89 and continues to trend lower. Additionally, the index has closed below its 200-day exponential moving average (200 DEMA), suggesting weakening momentum and the likelihood of a continuation of the corrective phase."

On the outlook of the Bank Nifty index, Bagadia said, “The technical chart pattern of the Bank Nifty index indicates a pullback-driven recovery within a broader consolidation phase. Immediate resistance is placed in the 59,000–59,100 zone, while supports at 58,500 and 58,600 remain crucial for sustaining near-term stability in banking stocks. On the daily charts, the RSI stands at 40.77 and is trending lower, suggesting a loss of short-term momentum despite the underlying positive structure.”

Sumeet Bagadia's stock recommendations

Regarding stocks to buy today, Sumeet Bagadia recommended these five breakout stocks for intraday trading: IFCI, PGIL, IDBI Bank, Dabur, and Samvardhana Motherson.

1] IFCI: Buy at ₹58.56, Target ₹63.80, Stop Loss ₹56.

IFCI share price is trading around ₹58.56 after a phase of range-bound consolidation, where it formed a base and bounced back, indicating emerging strength. The recent uptrend is supported by healthy volumes, signalling active participation.

2] PGIL: Buy at ₹1447.40, Target ₹1595, Stop Loss ₹1374.

The stock is trading around ₹1,447.40 and continues to form a higher–high, higher–low structure on the weekly chart, indicating a sustained uptrend.

3] IDBI Bank: Buy at ₹98.20, Target ₹107, Stop Loss ₹93.50.

IDBI Bank's share price is trading around ₹98.20 and continues to maintain a higher-high–higher-low structure on both the daily and weekly charts, indicating a sustained uptrend. The stock recently broke its previous high, retraced towards the 200-day EMA, and bounced back, reflecting buying interest at lower levels.

4] Dabur: Buy at ₹516.20, Target ₹555, Stop Loss ₹497.

The stock is trading around ₹516.20 and is forming a symmetrical triangle pattern on the daily chart, indicating consolidation within a sideways range. The stock has taken strong support at the rising trendline and is moving higher, reflecting buying interest. A recent bullish engulfing pattern signals a potential reversal.

5] Samvardhana Motherson: Buy at ₹109.67, Target ₹117, Stop Loss ₹105.

The stock is trading around ₹109.67 and continues to maintain a higher–high, higher–low structure, indicating a longer-term uptrend. The stock recently consolidated, formed a base near the support zone, and bounced back strongly from the 200-day EMA, highlighting buying interest.

Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.