Breakout stocks to buy or sell: Sumeet Bagadia recommends five shares to buy today — Mastek Ltd, Concord Biotech, Krishna Institute Of Medical Sciences, Equitas Small Finance Bank, and Craftsman Automation.
Breakout stocks to buy or sell: On Tuesday, February 4, the Indian stock market benchmarks, Sensex and Nifty 50, surged by over 1%, turning positive for the year. This recovery comes despite ongoing concerns about weak quarterly earnings, foreign capital outflows, and uncertainty over US President Donald Trump’s trade policies.
The Sensex ended the session up by 1,397 points, or 1.81%, at 78,583.81, while the Nifty 50 closed with a rise of 378 points, or 1.62%, at 23,739.25.
As of 2025, the Sensex has increased by around 0.5%, while the Nifty 50 has risen by 0.40%. This also marks the Nifty 50’s first positive month since October of the previous year.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that the Indian stock market sentiment has become positive as the Nifty 50 index has successfully surpassed the 50-day exponential moving average (50-DEMA) level, breaking through the 23,650 to 23,700 range.
Speaking on the outlook for the Indian stock market today, Sumeet Bagadia said, “The Indian stock market bias has turned bullish as the Nifty 50 index has decisively broken the 50-DEMA barrier placed at 23,650 to 23,700 range. The 50- stock index is now set to touch 24,200 mark in the near term where as the crucial support for the frontline index is placed at 20-DEMA zone placed around 23,300 mark. One can look at technically strong shares to maximise one’s returns in this bullish trend. Break out stocks can be a good option for intraday trading.”
Regarding breakout stocks for intraday trading, Sumeet Bagadia recommended buying these five shares today: Mastek Ltd, Concord Biotech, Krishna Institute Of Medical Sciences, Equitas Small Finance Bank, and Craftsman Automation.
1] Mastek Ltd: Buy at ₹2,678.90, target ₹2,866 , stop loss ₹2,585;
2] Concord Biotech: Buy at ₹2,237.25, target ₹2,394, stop loss ₹2,159;
3] Krishna Institute Of Medical Sciences: Buy at ₹639.95, target ₹685, stop loss ₹617;
4] Equitas Small Finance Bank: Buy at ₹71.32, target ₹76.3, stop loss ₹68.82;
5] Craftsman Automation: Buy at ₹4,386.55, target ₹4,694, stop loss ₹4,233.
Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.
Source: www.livemint.com