Market Watch: Sumeet Bagadia’s Stock Recommendations for April 25

Breakout stocks to buy or sell: The Sensex and Nifty 50 ended their seven-day winning streak due to profit booking and investor risk aversion following the Pahalgam terror attack in Jammu and Kashmir that intensified regional geopolitical tensions.

The BSE benchmark of 30 shares closed down by 315.06 points which represents a 0.39 per cent decrease from the previous level to 79,801.43. The stock market lost 391.94 points which amounted to a 0.48 per cent decrease bringing its value to 79,724.55 during the trading day. NSE Nifty fell 82.25 points which is equivalent to 0.34 per cent reaching a level of 24,246.70.

Stock market today

According to Sumeet Bagadia, Executive Director at Choice Broking, positive sentiment prevails in the Indian stock market as long as the Nifty 50 index maintains levels above 23,800. After seven consecutive days of gains the benchmark indices halted their upward trajectory to take a pause. So, some consolidation is expected.”

The Nifty 50 faces resistance at the range between 24,350 and 24,400 on its upper level. The stock market will enter a bullish or bearish phase once the trading range between 23,800 and 24,400 breaks.

Sumeet Bagadia breakout stocks recommendations

Sumeet Bagadia recommended buying these five breakout shares to buy today: Five stocks Sumeet Bagadia identified as strong breakout shares today include Samhi Hotels Ltd, Suven Life Sciences Ltd, Thangamayil Jewellery Ltd, Transport Corporation of India (TCI) Ltd and Sundaram Finance Holdings Ltd.

1.Samhi Hotels Ltd.: Purchase at Rs 193.29 with an aim of Rs 206 and a stop loss at Rs 185.

2.TCS: Set a stop loss at Rs 1,122 to prevent any losses.

3.Sundaram Finance Holdings Ltd.: Buy shares at Rs361.1, with an exit strategy at Rs390. Protect your investment by setting up a stop loss at Rs348.