2 hrs ago
Sumeet Bagadia Names Five Breakout Stocks With Targets
The stock market recovered after falling sharply in the previous session.
The Sensex and Nifty both finished higher, helped by buying in banking shares.
Analyst Sumeet Bagadia selected five stocks that he believes have promising chart patterns.
These stocks are Heritage Foods, eClerx Services, JK Paper, HDFC Bank, and Aegis Logistics.
Each recommendation includes a price at which to buy, a possible target price, and a stop-loss level.
A stop loss is a price that can limit losses if the stock falls.
Bagadia said the Nifty is still in a cautious position despite signs of a possible rebound.
He said the Bank Nifty looked somewhat stronger after recovering from its intraday low.
The recommendations depend on the stocks continuing to hold important support levels.
Sumeet Bagadia recommended Heritage Foods, eClerx Services, JK Paper, HDFC Bank, and Aegis Logistics for Thursday, 17 September.
Heritage Foods was recommended at ₹409, with a ₹450 target and ₹384 stop loss.
eClerx Services was recommended at ₹1,962, with a ₹2,170 target and ₹1,850 stop loss.
JK Paper, HDFC Bank, and Aegis Logistics had targets of ₹460, ₹780, and ₹1,520, respectively.
Sensex and Nifty recovered after the previous session’s decline, but Bagadia described the broader near-term market setup as cautious.
- Who
- Sumeet Bagadia, Executive Director at Choice Broking, recommended five stocks.
- What
- Bagadia identified Heritage Foods, eClerx Services, JK Paper, HDFC Bank, and Aegis Logistics as breakout-stock candidates, with entry prices, targets, and stop losses.
- Where
- The recommendations concern Indian equity markets, including the BSE Sensex, NSE Nifty 50, and Bank Nifty.
- When
- The recommendations were for Thursday, 17 September; the market session discussed closed on Wednesday.
- Why
- The stocks showed technical signals such as breakouts, retests, rising volumes, moving-average support, or improving momentum.
Cautious Broader-Market View
Bullish Individual-Stock View
Near-term market direction
Cautious Broader-Market View
The Nifty remains below key moving averages, its RSI is in oversold territory, and resistance around 23,300–23,500 could limit recovery.
Bullish Individual-Stock View
Oversold conditions and buying near support could allow a technical rebound.
Banking-sector momentum
Cautious Broader-Market View
Bank Nifty could face renewed selling if it fails to hold the 55,700–56,000 support region.
Bullish Individual-Stock View
The strong recovery from the intraday low and participation from PSU banks indicate renewed demand and a cautiously positive setup.
Recommended stocks
Cautious Broader-Market View
The recommendations remain conditional because each stock must hold its stated support or stop-loss level and sustain momentum.
Bullish Individual-Stock View
Breakouts, successful retests, rising volumes, moving-average support, and improving indicators suggest upside potential toward Bagadia’s targets.
Key facts
- Sensex close
- 74,336.45, up 332.63 points or 0.45%.
- Nifty 50 close
- 23,217.60, up 99 points or 0.43%.
- Bank Nifty close
- 56,292.45, up 497.70 points or 0.89%.
- Heritage Foods
- Buy at ₹409; target ₹450; stop loss ₹384.
- eClerx Services
- Buy at ₹1,962; target ₹2,170; stop loss ₹1,850.
- JK Paper
- Buy at ₹417; target ₹460; stop loss ₹396.
- HDFC Bank and Aegis Logistics
- HDFC Bank: buy at ₹721, target ₹780, stop loss ₹690. Aegis Logistics: buy at ₹1,381, target ₹1,520, stop loss ₹1,310.
Quotes
Sumeet Bagadia
Executive Director at Choice Broking and market analyst
“The 23,000–23,080 zone remains the crucial support area, while 23,300–23,450 is the immediate hurdle, followed by the 50-Day EMA near 23,972.”
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“For now, the near-term setup has turned cautiously positive, supported by the strong recovery from the day’s low.”
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