Breakout stocks to buy or sell: Sumeet Bagadia recommends five shares to buy today — 4 February 2025 | Stock Market News
Source: Live Mint
Breakout stocks to buy or sell: The Indian stock market experienced significant declines in early trading on Monday, February 3, as weak global cues triggered a sell-off. The Sensex plunged over 700 points, while the Nifty 50 slipped below 23,250.
The Sensex dropped 750 points, reaching an intraday low of 76,791.09, while the Nifty 50 declined by 1% to 23,222.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that the Indian stock market remains cautious overall, but the Nifty 50 index indicates a potential rebound from the 23,200 level. However, the index must close above the 23,600 mark to boost sentiment on Dalal Street. He further said adopting a stock-specific strategy and focusing on stocks that exhibit strength on the technical charts is advisable.
Speaking on the outlook for the Indian stock market today, Sumeet Bagadia said, “Overall, the Indian stock market bias is cautious, but the Nifty 50 index is showing the possibility of a bounce back from 23,200 levels. However, to improve Dalal Street sentiment, the 50-stock index has to break above the 23,600 mark on a closing basis. So, one should maintain a stock-specific approach and look at those stocks that look strong on the technical chart. Looking at breakout stocks can be a good option for intraday trading.”
Regarding breakout stocks for intraday trading, Sumeet Bagadia recommended buying these five shares today: Metro Brands, Century Plyboards (India), Westlife Foodworld, PCBL, and Chemical and Clean Science and Technology.
Stocks to buy today
1] Metro Brands: Buy at ₹1295, target ₹1386, stop loss ₹1250;
2] Century Plyboards (India): Buy at ₹830.55, target ₹888, stop loss ₹801;
3] Westlife Foodworld: Buy at ₹808.20, target ₹865, stop loss ₹780;
4] PCBL: Buy at ₹403.45, target ₹432, stop loss ₹389;
5] Chemical and Clean Science and Technology: Buy at ₹1485.5, target ₹1433, stop loss ₹1589.
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.
