Breakout stocks to buy or sell: On account of FII outflows, weak Q3 earnings trends—especially in IT and consumption sectors, continued weakness in the Indian Rupee, and renewed fear of Trump’s Greenland tariffs on NATO countries, the Indian stock market finished lower after logging strong gains during the first half of trade during the Friday session. The Nifty 50 index finished 241 points lower at 25,048, the BSE Sensex today crashed 769 points and closed at 81,537, whereas the Bank Nifty index nosedived 727 points and ended at 58,473.
Stock market today
Sumeet Bagadia, Executive Director at Choice Broking, believes the Indian stock market sentiment is weak, as the Nifty 50 index has broken below the 200-DEMA support at 25,100 and is unable to sustain at higher levels. The Choice Broking expert said the Nifty 50 price action suggests selling pressure at higher levels and a lack of follow-through buying.
Speaking on the outlook of the Indian stock market today, Sumeet Bagadia of Choice Broking said, “The Indian stock market bias is weak as the Nifty 50 index has given a decisive breakdown at 200-DEMA placed at 25,100. Now, the 50-stock index has crucial support placed at 24,900. Breaking below this support means more selling pressure, and in that case, the key index may find the next support at the 24,500 to 24,400 band, the next looking demand zone on the technical chart pattern. On the upper side, the index needs to close above 25,500 to strengthen the conviction of bulls.”
Sumeet Bagadia’s breakout stocks
Regarding breakout stocks to buy today, Sumeet Bagadia recommended these five shares to buy: Equitas Small Finance Bank, ACI, HCL Tech, Chennai Petroleum, and Bajaj Consumer.
1] Equitas Small Finance Bank: Buy at ₹71.05, Target ₹77.48, Stop Loss ₹68.80.
Equitas Small Finance Bank’s share is showing a bullish trend reversal on the daily chart after a prolonged correction. Price has given a decisive breakout above the ₹69–70 resistance zone, driven by strong bullish candles, indicating a shift in momentum. The stock has reclaimed the 20 EMA and 50 EMA, both of which are turning upward, reflecting improving short-term strength.
2] ACI: Buy at ₹552.80, Target ₹600, Stop Loss ₹525.
ACI is trading around ₹552.80 after recently forming a base and taking strong support, followed by a sharp bounce, indicating improving strength. The stock is trading above its 20-day and 50-day EMAs, confirming a short-term rising trend. On the downside, immediate support is placed near ₹535, aligned with the 20-day EMA, where buying interest is evident.
3] HCL Tech: Buy at ₹1707, Target ₹1855, Stop Loss ₹1620.
HCL Tech’s share is exhibiting a clear bullish trend reversal on the daily chart, marked by higher highs and higher lows. Price is trading above the 20 EMA and 50 EMA, with both averages turning upward, reflecting improving momentum. The stock has reclaimed the 100 EMA, while the 200 EMA provides strong base support.
4] Chennai Petroleum: Buy at ₹842.20, Target ₹920, Stop Loss ₹800.
The stock is trading around ₹842.20 and is exhibiting renewed strength after taking firm support near the 200-day EMA zone and moving higher, indicating sustained buying interest. The stock is trading above its key 100-day and 200-day EMAs, reinforcing the bullish structure.
5] Bajaj Consumer: Buy at ₹305.80, Target ₹335, Stop Loss ₹290.
Bajaj Consumer share is showing a strong bullish continuation on the daily chart after a brief consolidation. Price has given a decisive breakout above the ₹300–305 resistance zone with strong volume, indicating fresh buying interest. The stock is trading comfortably above its 20, 50, 100, and 200 EMAs, all trending upward, confirming trend strength.
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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