Breakout stocks to buy or sell: Sumeet Bagadia recommends five shares to buy today — 20 January 2026

Stock market today: The Indian stock market traded in a narrow range on Monday with a cautious undertone, as tariff-related concerns and geopolitical uncertainties kept global investors on edge. Fresh threats from US President Donald Trump's tariffs on select European countries triggered a global risk-off mood, weighing on domestic sentiment. Persistent selling by foreign investors, along with continued weakness in the rupee against the dollar, added to the pressure on Indian equities, keeping participants defensive through the session.

Stock market today

Sumeet Bagadia, Executive Director at Choice Broking, believes the Indian stock market sentiment is weak. The Choice Broking expert said that as long as the Nifty 50 index closes above 25,500, a selective buy-on-dips strategy remains favourable, with a strict stop-loss at 25,150.

Speaking on the outlook of the Nifty 50 index, Sumeet Bagadia said, “The technical chart pattern indicates a weak intraday sentiment with selling pressure at higher levels. The index briefly crossed 26,600 but could not sustain the move due to a lack of follow-through buying. Immediate resistance is in the 25,700–25,750 range, while support is at 25,400–25,450.”

“The Bank Nifty price behaviour indicates that intraday declines are being absorbed by buyers, thereby keeping the broader trend constructive. Immediate resistance is placed in the 60,100–60,200 zone, while supports at 59,500 and 59,600 remain crucial for sustaining near-term stability in banking stocks,” said Sumeet Bagadia.

On suggestions to investors regarding Bank Nifty stocks, Sumeet Bagadia of Choice Broking said, “Traders are advised to remain selective, adopt a buy-on-dips approach near key support levels, and wait for a decisive breakout above resistance before initiating fresh directional positions.”

Sumeet Bagadia's stock recommendations for today

Regarding breakout stocks to consider for intraday trading, Sumeet Bagadia recommended these five shares to buy today: Bank of India, Thyrocare Technologies, Can Fin Home, Ashok Leyland, and CEAT.

1] Bank of India: Buy at ₹162.80, Target ₹175, Stop Loss ₹157.

The stock is showing strong bullish continuation on the daily chart after a steady base formation. It has broken out to fresh highs, confirming trend strength. Price is trading comfortably above the 20 and 50 EMA, both of which are sloping upward, indicating strong short-term momentum. The stock is also well above its 100- and 200-day EMAs, reinforcing the broader bullish bias.

2] Thyrocare Technologies: Buy at ₹476, Target ₹515, Stop Loss ₹455.

Thyrocare Technologies shares remain in a strong uptrend with higher highs and higher lows on the daily chart. The stock has successfully reclaimed the 20 and 50 EMA, while the 100 EMA continues to trend upward, providing dynamic support. Price action suggests healthy consolidation near breakout levels. Volume behaviour remains constructive, with higher participation on up-moves.

3] Can Fin Home: Buy at ₹939, Target ₹1010, Stop Loss ₹900.

Can Fin Home's share price is exhibiting a strong bullish continuation pattern after consolidating above key moving averages. The stock is trading above the 20, 50 and 100 EMA, all trending upward, confirming strength across timeframes. The long-term trend remains positive with the price well above the 200 EMA. Volumes remain supportive during rallies, indicating accumulation at higher levels.

4] Ashok Leyland: Buy at ₹188, Target ₹202, Stop Loss ₹181.

Ashok Leyland's share price is in a strong secular uptrend, marked by consistently higher highs and higher lows on the daily chart. The stock is sustaining above the 20 and 50 EMA, both of which are sloping upward, reflecting strong momentum. The 100 and 200 EMA continue to provide a solid base to the ongoing trend. Volume patterns support the bullish view, with limited selling pressure on dips.

5] CEAT: Buy at ₹3895, Target ₹4170, Stop Loss ₹3750.

CEAT share price is showing trend resumption after a healthy consolidation phase on the daily chart. The stock has reclaimed the 20 and 50 EMA, while the 100 EMA is gradually turning upward, indicating improving momentum. Price continues to hold above the 200 EMA, supporting the long-term bullish structure. Volumes remain stable, suggesting accumulation during consolidation.

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.