Today, the five breakout stocks Sumeet Bagadia from Choice Broking is advocating for buying are RVNL, RCF, Eveready Industries, Alembic and HPL.
Stock Market Overview
Leaning on the analysis of Sumeet Bagadia of Choice Broking NIFTY still finds a barrier at 24,400-24,500 levels. The next level is a decisive break above this range which would signal the start of another bull trend in Indian stock market.
Morning Session Review
Indian stock market began the week on a flat note with key benchmark indices dipping in first half testing levels below 24250; however it rebounded in second half ending near day’s high without any significant change over previous close.
Market Sentiment and Strategy
As long as Nifty 50 index trades above 24k, overall sentiment remains positive according to him. He advises investors to adopt stock specific approach amid Q1FY25 results and highlights that some breakout stocks are still showing strong chart patterns.
Sumeet Bagadia’s Stock Picks for Today
RVNL: Buy at ₹566 tgt ₹599 stop loss ₹545
RCF: Buy at ₹228.40 tgt ₹240 stop loss ₹220
Eveready Industries: Buy at ₹403.65 tgt₹425 stop loss₹388
Alembic: Buy at ₹130.65 tgt₹137 stop loss₹125
HPL: Buy at ₹487.65 tgt₹510 stop loss₹470
Market Outlook Bagadia emphasizes that the Indian stock market remains positive until the Nifty 50 index stays above the 24,000 mark as they wait for Jerome Powell’s testimony in the US Senate which is to be held next Wednesday. He recommends intraday traders focus on breakout stocks that still look promising on chart patterns.
Disclaimer: The views and recommendations are by individual analysts/broking companies and not of Mint. Investors may need to consult expert advisors before making investment decisions.
Stay Updated: Follow us on Facebook for the latest finance trends and insights!
Also Read – Spain vs France Live Update Euro Cup Score Update 2024
Also Read – South Africa Women vs India Women Highlights 2nd T20I, Match Called off Due to Rain
Also Read – How To Watch Copa America 2024 live Free Any Device