Breakout stocks to buy or sell: Sumeet Bagadia recommends five shares to buy before Budget 2025 — 1 February 2025 | Stock Market News

Breakout stocks to buy or sell: Domestic equity benchmarks Sensex and Nifty 50 settled higher in the previous session, with the Economic Survey predicting a pro-growth budget one day ahead of the Union Budget 2025-26 presentation. Rallying for the fourth straight day, the 30-share BSE Sensex last settled 740.76 points or 0.97 per cent higher at 77,500.57.

During the day, it jumped 846.15 points or 1.10 per cent to 77,605.96. The NSE Nifty rallied 258.90 points or 1.11 per cent to 23,508.40. During the day, it rose 297.3 points or 1.27 per cent to 23,546.80. However, the Nifty ended January with its longest monthly losing streak in over 23 years, hit by hefty foreign sales and concerns over corporate earnings in a slowing economy.

Sumeet Bagadia’s breakout stock recommendations

Sumeet Bagadia, Executive Director at Choice Broking, believes that Indian stock market bias has improved as the Nifty 50 index has a 23,500 mark. The Choice Broking expert said the 50-stock index has crucial support at 23,300. However, Sumeet Bagadia maintained that Dalal Street’s mood would become bullish only after the key benchmark index broke above the 24,000 mark on a closing basis. He suggested investors sustain a stock-specific approach as the market is expected to remain volatile ahead of the Budget 2025 presentation. Bagadia recommended breakout stocks for intraday trading.

Speaking on the outlook for the Indian stock market on the Union Budget 2025 date, Sumeet Bagadia said, “Overall, the Indian stock market bias has improved as the Nifty 50 index has broken the hurdle placed at the 23,500 mark. However, it is insufficient to assume a bullish trend on Dalal Street. We can assume a bull trend once the frontline index breaks above the 24,000 mark on a decisive basis. So, it is better to maintain a stock-specific approach as the market is expected to trade volatile ahead of the Union Budget 2025. Looking at breakout stocks can be a good option for intraday trading.”

Regarding breakout stocks to buy today, Sumeet Bagadia recommended buying these five shares before budget 2025: Dr Agrawals Eye Hospital, Aeroflex Industries, MPS, Ganesh Housing, and Jupiter Life Line Hospitals.

Stocks to buy before Budget 2025

1] Dr Agrawals Eye Hospital: Buy at ₹4591.20, target ₹5000, stop loss ₹4444;

2] Aeroflex Industries: Buy at ₹242.65, target ₹260, stop loss ₹235;

3] MPS: Buy at ₹2626.90, target ₹2800, stop loss ₹2530;

4] Ganesh Housing: Buy at ₹1354.70, target ₹1450, stop loss ₹1300; and

5] Jupiter Life Line Hospitals: Buy at ₹1629.10, target ₹1740, stop loss ₹1570.

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.