2 hrs ago

Sumeet Bagadia Names Five Breakout Stocks With Targets

Sumeet Bagadia Names Five Breakout Stocks With Targets
Top 5 breakout stocks to buy today by Sumeet Bagadia: Heritage Foods, HDFC Bank, JK Paper; check stop loss, target price · livemint.com

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.

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.”
livemint.com
“For now, the near-term setup has turned cautiously positive, supported by the strong recovery from the day’s low.”
livemint.com

Sources

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