Breakout stocks to buy or sell: Sumeet Bagadia recommends five shares to buy today – 7 March 2025 | Stock Market News
Breakout stocks to buy or sell: Domestic equity benchmarks Sensex and Nifty 50 settled higher after a volatile session driven by rally in heavyweight stocks. Global cues also supported the Indian stock market after a drop in crude oil prices and US President Donald Trump’s softened stand on tariffs.
The 30-share BSE Sensex rallied over 610 points to reclaim the 74,000 mark and settled at 74,340.09, while Nifty advanced 207.40 points to close above 22,500. Sensex marked its second straight day of gains. During the day, it surged 660.57 points to a high of 74,390.80. The broader 50-share barometer jumped 219.15 points or 0.98% to hit an intraday high of 22,556.45.
Wall Street traders continued to navigate intense, quick and sharp market swings amid a slew of tariff headlines. The S&P 500 slid 1.8 per cent, and the tech-heavy Nasdaq 100 sank 2.8 per cent, on the brink of a technical correction. The US dollar saw its longest losing streak since September.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes Nifty continued with the positive move further ahead after the initial volatility witnessed in the morning session and closed above the 22,500 zone, which was important in improving the bias and sentiment to some extent.
“The participation from the broader markets was significant in supporting the indices, and further rise can be anticipated with the next targets of 22,800 and 23,000 levels visible provided the zone near 22,300 is sustained in the coming session,” said Bagadia.
Regarding breakout stocks for today, Sumeet Bagadia recommended buying these five shares: Chemplast Sanmar, Poly Medicure, DOMS Industries, Rhi Magnesita India, and Axiscades Technologies.
Breakout stocks to buy today
1. Chemplast Samnar: Buy at ₹446.80, target price ₹469, stoploss ₹431.
2. Poly Medicure: Buy at ₹2,320.30, target price ₹2,483, stoploss ₹2,239.
3. DOMS Industries: Buy at ₹2,729.90, target price ₹2,921, stoploss ₹2,634.
4. Rhi Magnesita India: Buy at ₹421.45, target price ₹451, stoploss ₹407.
5. Axiscades Technologies: Buy at ₹752, target price ₹835, stoploss ₹708.
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, consider individual risk tolerance, and conduct thorough research before making investment decisions, as market conditions can change rapidly, and individual circumstances may vary.
