Breakout stocks to buy or sell: Sumeet Bagadia recommends five shares to buy today — 6 February 2025 | Stock Market News
Breakout stocks to buy or sell: India’s key stock indices closed in negative territory on Wednesday, February 5, pressured by weak performance from heavyweight stocks and rising tensions in the U.S.-China trade war.
The Nifty 50 declined by 0.18 per cent to settle at 23,696, while the Sensex dropped 0.40 per cent, closing at 78,271, compared to its previous day’s finish.
The Nifty Smallcap 100 index climbed 1.85 per cent to reach 17,108, while the Nifty Midcap 100 index advanced 0.68 per cent, closing at 54,180.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that the Indian stock market is encountering resistance at 23,800 while establishing a strong support level at 23,500.
Speaking on the outlook for the Indian stock market today, Sumeet Bagadia said, “The Indian stock market is facing a hurdle at 23,800 whereas it has made a strong base at the 23,500 mark. However, the frontline index remained range-bound throughout the Wednesday session and sustained above 23,700. This augurs well for bulls as they wait for the RBI Policy meeting outcome to become completely assured about the near-term triggers. One is advised to maintain a stock-specific approach and look at those stocks that are looking strong on the technical chart. Looking at breakout stocks can be a good option.”
Regarding breakout stocks for intraday trading, Sumeet Bagadia recommended buying these five shares today: Apeejay Surrendra Park Hotels, Wonder Electricals, Pokarna, Shivalik Bimetal Controls, and Kiri Industries.
Stocks to buy today
1] Apeejay Surrendra Park Hotels: Buy at ₹195.89, target ₹210 , stop loss ₹189;
2] Wonder Electricals: Buy at ₹188.83, target ₹202, stop loss ₹182;
3] Pokarna: Buy at ₹1430.05, target ₹1530, stop loss ₹1380;
4] Shivalik Bimetal Controls: Buy at ₹850.65, target ₹910, stop loss ₹820;
5] Kiri Industries: Buy at ₹638.9, target ₹690, stop loss ₹615.
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.
