Breakout stocks to buy or sell: Sumeet Bagadia recommends five shares to buy today — 28 January 2025 | Stock Market News
Source: Live Mint
Breakout stocks to buy or sell: After showing weakness from the highs on Friday, the Indian stock market witnessed a sharp sell-off on Monday. The Nifty 50 index crashed 263 points and closed at the 22,829 mark, the BSE Sensex nosedived 824 points and ended at 75,366, while the Bank Nifty Index corrected 303 points and finished at 48,064. Relentless FII selling with over ₹70,000 crore outflow for the month added to the negative market sentiment. The broader market took a severe hit, with the Nifty Midcap 100 and the Smallcap 100 plunging as much as 2.8% and 3.8%, respectively. Donald Trump’s threat of imposing a 25% tariff on Colombia over repatriating Colombian immigrants from the US weighed on the market. Nasdaq futures slumped, and Japanese tech stocks declined, reflecting concerns over Chinese start-up DeepSeek’s cost-efficient AI model, which is posing threats to the business models of US tech giants like Nvidia, OpenAI and Google.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that overall Indian stock market sentiment weakened as the Nifty 50 index closed near the 22,800 mark. The Choice Broking expert said Dalal Street sentiments may go down further if the Nifty 50 index slips below 22,800 on a closing basis. Bagadia noted that the fear of Chinese low-cost Start-up DeepSeek AI has fueled a heavy sell-off in the global bourses, and this is expected to rattle the Indian stock market today. He advised investors to maintain a stock-specific approach and look at those stocks that look strong on the technical chart pattern.
Speaking on the outlook for the Indian stock market, Sumeet Bagadia said, “Global market sentiments are weak due to the DeepSeek fear. The Chinese low-cost AI start-up is also weighing on the Indian stock market. Dalal Street sentiment is weak as the Nifty 50 index has closed near 22,800 support. By breaching the support below, we may witness sharp selling pressure in the Indian stock market today. So, amid a bear-hit market, one should maintain a stock-specific approach and look at those stocks that look positive from a technical perspective. Buying breakout stocks can be a good option for intraday trading.”
Regarding breakout stocks for today, Sumeet Bagadia recommended buying these five intraday stocks for today: Alivus Life Sciences, Jindal Drilling and Industries, Associated Alcohols & Breweries, DCM Shriram, and MPS.
Also Read : Bitcoin Accumulation Continues: MicroStrategy Buys 10,107 BTC Amid Crypto Market Pullback | TheSpuzz
Stocks to buy today
1] Alivus Life Sciences: Buy at ₹1197.50, target ₹1280, stop loss ₹1150;
2] Jindal Drilling and Industries: Buy at ₹788, target ₹845, stop loss ₹760;
3] Associated Alcohols & Breweries: Buy at ₹1156.10, target ₹1240, stop loss ₹1111;
4] DCM Shriram: Buy at ₹1196.90, target ₹1280, stop loss ₹1150; and
5] MPS: Buy at ₹2529.60, target ₹2750, stop loss ₹2434.
Disclaimer: The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
