Breakout stocks to buy or sell: Following weak global cues amid escalating US-Iran tensions, the Indian stock market witnessed a sharp sell-off on Thursday. The sell-off was across segments as all indices ended in the red zone and BSE-listed stocks wiped out at ₹7 lakh crore market capitalisation.
Institutional activity reflected a cautious undertone, with both DIIs and FIIs turning net sellers in the cash market, offloading ₹1,082.15 crore and ₹459.90 crore, respectively. The selling pressure signals a degree of risk aversion at current levels. In the derivatives segment, FII positioning remains net bearish, reinforcing a negative bias and indicating subdued investor confidence heading into today’s session.
Stock market today
Sumeet Bagadia, Executive Director at Choice Broking, believes the Indian stock market’s undertone is weak. The Choice Broking expert said the Nifty 50 today has immediate resistance at the 25,600–25,650 zone, while key support lies in the 25,300–25,350 range.
Speaking on the outlook of the Nifty 50 today, Sumeet Bagadia said, “Derivatives positioning shows significant put writing at the 25,400 strike and heavy call writing at the 25,600 strike, defining a near-term consolidation band. Traders are advised to remain cautious near critical support levels and wait for a clear breakout above resistance before taking fresh directional bets.”
On the outlook of the Bank Nifty today, Bagadia said, “The daily RSI stands at 55.53, reflecting weakening momentum despite still being in the neutral-to-positive zone. Traders are advised to remain cautious near important support levels and wait for a decisive breakout above resistance before initiating fresh directional positions.”
Sumeet Bagadia of Choice Broking said that immediate resistance for Bank Nifty today is seen in the 61,000–61,100 zone, while the 60,400–60,500 band continues to act as a crucial support area for sustaining near-term stability.
Sumeet Bagadia’s breakout stocks today
Regarding stocks to buy today, Sumeet Bagadia recommended buying these five breakout stocks for intraday trading: SBI Card, NTPC Green, Navin Fluorine, HDFC Life, and Data Patterns (India).
Here’s the full details of Sumeet Bagadia’s stock recommendations for intraday trading:
1] SBI Card: Buy at ₹798.20, Target ₹870, Stop Loss ₹760.
SBI Card’s share is currently trading at ₹798.2; the stock displays a bullish reversal pattern after bouncing from a low. The stock has successfully reclaimed its 20-day EMA ( ₹780) and is now challenging the 50-day EMA ( ₹808). This price action is supported by the RSI (14), which has surged to 54.73, indicating strong momentum.
2] NTPC Green: Buy at ₹90.51, Target ₹97, Stop Loss ₹87.
NTPC Green’s share price is currently trading at ₹90.51; the stock shows a constructive setup after stabilising above its recent low of ₹84.05. The stock has cleared its 20-day EMA at ₹89.39, exhibiting a bullish crossover with the 50-day EMA at ₹91.06 within reach.
3] Navin Fluorine: Buy at ₹6388, Target ₹7000, Stop Loss ₹6080.
Navin Fluorine’s share price is currently trading at ₹6388, displaying a strong bullish trend following a breakout from a recent consolidation phase. The stock is currently trading well above its key moving averages, including the 20-day EMA at 6253.06 and 50-day EMA at ₹6057.24, which now act as solid support zones. After reaching a high of ₹6965, the price is undergoing a minor healthy pullback, finding support near the 20-day EMA.
4] HDFC Life: Buy at ₹733.15, Target ₹800, Stop Loss ₹700.
HDFC Life’s share price is currently trading at ₹733.15. The stock displays a sharp V-shaped recovery pattern after finding strong support near its recent swing low of ₹688.90. The stock has demonstrated robust upward momentum, reclaiming the 20-day EMA at ₹718.29 and currently sustaining above the 50-day EMA at ₹732.08. The RSI indicator stands at 56.48, reflecting a steep climb from lower levels and confirming the resurgence of bullish strength.
5] Data Patterns (India): Buy at ₹2914, Target ₹3150, Stop Loss ₹2770.
Data Patterns share is trading around ₹2914 and continues to exhibit strength by sustaining above its key 20, 50, 100, and 200 EMAs, indicating a firm underlying trend. On the hourly chart, the stock is forming a consistent higher-high–higher-low pattern, suggesting positive short-term momentum.
US-Iran war
Awaiting President Donald Trump’s orders, a massive military buildup, including warships, fighter jets and refuelling aircraft, is hovering in West Asia. The target would be Iran if the ongoing negotiations over Tehran’s nuclear programme fail to produce an agreement.
According to CNN and CBS, the US military is ready to launch strikes against Iran as early as this weekend, but Trump has not yet made a final decision. Russia and Iran, too, have conducted naval exercises in the Sea of Oman to deter any “unilateral action” in the region.
Disclaimer: This story is for educational purposes only. 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.
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