Archive · 1 Sep 2026
Bagadia Names Ten Breakout Stocks Amid Cautious Indian Markets
Indian stock markets have been moving cautiously because investors are worried about higher oil prices, inflation and interest rates.
On Monday, the Nifty and Sensex both fell.
The Nifty found buyers near 24,000, which became an important support level.
Bank Nifty performed better and rose nearly 1%.
Sumeet Bagadia said the Nifty may continue moving sideways unless it breaks above or below important levels.
He recommended five shares for 1 September: Lumax AutoTechnologies, Vijaya Diagnostic Centre, Tamilnad Mercantile Bank, EPL and Sansera Engineering.
He had recommended five other shares for 31 August, including Tata Technologies and TTK Healthcare.
These suggestions use charts, moving averages and momentum indicators, but the targets are not guaranteed.
Indian equities fell on Monday, 31 August, with Sensex down 0.40% and Nifty down 0.39% amid West Asia tensions and rising crude prices.
Nifty found support near 24,000, while Bagadia identified 23,900–23,950 as support and 24,200–24,250 as resistance for the next session.
Bank Nifty rose 0.92% to 58,024.95 after recovering from the 57,200 zone, with a sideways-to-bullish outlook above key moving averages.
For 1 September, Bagadia recommended Lumax AutoTechnologies, Vijaya Diagnostic Centre, Tamilnad Mercantile Bank, EPL and Sansera Engineering.
His previous recommendations for 31 August were Tata Technologies, Ask Automotive, Sagility, Ramkrishna Forgings and TTK Healthcare, each with specified targets and stop-loss levels.
- Who
- Sumeet Bagadia, Executive Director at Choice Broking, and Indian equity-market investors.
- What
- Bagadia provided technical views on the Nifty and Bank Nifty and recommended five shares for 1 September, following five recommendations for 31 August.
- When
- The latest recommendations were for Tuesday, 1 September 2026; the earlier recommendations were for Monday, 31 August 2026.
- Where
- Indian equity markets.
- Why
- The recommendations were based on technical signals including breakouts, moving averages, support levels, price momentum and RSI readings, while broader markets faced concerns about crude prices, inflation, interest rates and geopolitical tensions.
Cautious Market Outlook
Selective Breakout Opportunities
Nifty direction
Cautious Market Outlook
The Nifty remained below its key moving averages, and Bagadia said a break below 23,900 could resume selling pressure.
Selective Breakout Opportunities
Holding the 24,000 zone and a sustained move above 24,250 could support a recovery toward higher levels.
Bank Nifty trend
Cautious Market Outlook
Bank Nifty remained within a broader range, and failure to hold 57,200 could bring renewed selling pressure.
Selective Breakout Opportunities
The index closed above its 20-day and 50-day EMAs; a move above 58,700–58,800 could strengthen its bullish setup.
Individual shares
Cautious Market Outlook
Several recommended shares had elevated RSI readings near or above the conventional overbought threshold, leaving room for consolidation or profit-taking.
Selective Breakout Opportunities
Bagadia’s technical analysis identified bullish breakouts, positive moving-average structures and potential upside targets for ten shares across the two recommendation dates.
- Monday Sensex close
- 76,957.27, down 307.24 points or 0.40%
- Monday Nifty 50 close
- 24,080.40, down 95.25 points or 0.39%
- Nifty outlook
- Sideways bias; support at 23,900–23,950 and resistance at 24,200–24,250
- Bank Nifty close
- 58,024.95, up 528.65 points or 0.92%
- Bank Nifty outlook
- Sideways-to-bullish bias; support at 57,200–57,300 and resistance at 58,700–58,800
- 1 September recommendations
- Lumax AutoTechnologies, Vijaya Diagnostic Centre, Tamilnad Mercantile Bank, EPL and Sansera Engineering
- 1 September target range
- Targets ranged from ₹283 for EPL to ₹4,333 for Sansera Engineering
- 31 August recommendations
- Tata Technologies, Ask Automotive, Sagility, Ramkrishna Forgings and TTK Healthcare
