Breakout stocks to buy or sell: Sumeet Bagadia recommends five shares to buy before Budget 2025 | Stock Market News
Source: Live Mint
Breakout stocks to buy or sell: The Indian stock markets closed higher for the second consecutive day on Wednesday, January 29, fueled by gains in banking and IT stocks. The Nifty 50 index closed 0.9 per cent higher at 23,163.10 points, compared to 22,957.25 points at the previous stock market close. The BSE Sensex index closed 0.83 per cent higher at 76,532.96 points, compared to 75,901.41 in the last session market.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes the Indian stock market may trade volatile ahead of the Budget 2025 date. The Choice Broking expert said the Nifty 50 index ended higher on Thursday, but the 50-stock index is still below the 23,300 hurdle. As the Economic Survey 2025 will be presented today, one can expect a volatile session on Friday as well. Amid the Q3 results 2025 season in full swing, Sumeet Bagadia advised a stock-specific approach to mint money from Dalal Street and suggested looking at those stocks that are looking strong on the technical chart pattern.
Speaking on the outlook of the Indian stock market today, Sumeet Bagadia said, “The Indian stock market is expected to remain volatile as investors are waiting for the Union Budget 2025, scheduled on 1 February 2025. However, the Economic Survey 2025 will be presented today, so I expect a highly volatile session ahead of the budget 2025. So, it is better to maintain a stock-specific approach as the Q3 results 2025 season is in full swing. One can look at breakout stocks as they are one of those stocks, which has strong upside potential on the technical chart.”
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Regarding breakout stocks to buy before Budget 2025, Sumeet Bagadia recommended buying these five shares: Bharat Electronics Ltd or BEL, Ujjivan Small Finance Bank, J&K Bank, Doms Industries, and Bharat Dynamics.
Stocks to buy today
1] BEL: Buy at ₹278.75, target ₹298, stop loss ₹268;
2] Ujjivan Small Finance Bank: Buy at ₹35.38, target ₹38, stop loss ₹34;
3] J&K Bank: Buy at ₹99.22, target ₹106, stop loss ₹95;
4] Doms Industries: Buy at ₹2442, target ₹2613, stop loss ₹2356; and
5] Bharat Dynamics: Buy at ₹1267.65, target ₹1356, stop loss ₹1223.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
