2 weeks ago
Bagadia recommends ten breakout stocks amid market losses
India’s stock market fell for another day as investors remained worried about conflict in West Asia and expensive oil.
The Nifty and Sensex both dropped on August 18 and August 19.
The Nifty had fallen for seven sessions by August 19.
Sumeet Bagadia said the market still looked weak in the short term.
He gave price levels that could act like floors and ceilings for the Nifty and Bank Nifty.
He also suggested five stocks for August 19 and five different stocks for August 20.
His choices were based on charts, moving averages, trading volume and momentum.
Each stock recommendation included a possible target price and a level to limit losses, but these are not guarantees.
Indian benchmark indices extended their declines from six sessions on August 18 to seven on August 19, amid West Asian tensions and elevated crude prices.
The Nifty 50 closed at 24,154.90 on August 18 and 24,078.30 on August 19, while the Sensex fell to 77,235.46 and 76,909.68, respectively.
Sumeet Bagadia identified 24,000–24,150 as crucial Nifty support and 24,270–24,350 as resistance; Bank Nifty support was set at 56,800–57,000.
For August 19, Bagadia recommended Data Patterns, Ingersoll-Rand India, Hindustan Foods, Savita Oil Technologies and Apcotex Industries.
For August 20, he recommended Dalmia Bharat Sugar and Industries, Ador Welding, Apollo Pipes, Patel Retail and Shreeji Shipping Global, each with targets and stop-loss levels.
- Who
- Sumeet Bagadia, Executive Director at Choice Broking, provided the market outlook and stock recommendations.
- What
- Bagadia identified technical support and resistance levels and recommended ten breakout stocks across two trading days.
- Where
- India’s domestic equity market.
- When
- The analysis followed market sessions on August 18 and August 19, 2026, with recommendations for August 19 and August 20.
- Why
- West Asian tensions and persistently high crude oil prices pressured investor sentiment and raised concerns about India’s macroeconomic fundamentals and corporate earnings.
Bullish stock setups
Cautious market outlook
Individual shares
Bullish stock setups
Bagadia said the ten selected stocks showed bullish structures supported by breakouts, positive moving-average positions, improving volume or sustained buying interest.
Cautious market outlook
The recommendations included stop-loss levels, and Hindustan Foods had an RSI near 74, indicating that consolidation could occur.
Nifty direction
Bullish stock setups
A sustained move above 24,270–24,350 could improve the Nifty’s short-term structure.
Cautious market outlook
Failure to hold the 24,000–24,150 support zone could lead to further weakness.
Bank Nifty direction
Bullish stock setups
A sustained breakout above 57,750 could bring back stronger buying momentum.
Cautious market outlook
Bank Nifty remained under selling pressure, and holding 56,800–57,000 was considered important to limit further downside.
Key facts
- Sensex, August 18
- Closed at 77,235.46, down 493 points, or 0.63%.
- Nifty 50, August 18
- Closed at 24,154.90, down 132.75 points, or 0.55%, extending its losing streak to six sessions.
- Sensex, August 19
- Closed at 76,909.68, down 326 points, or 0.42%.
- Nifty 50, August 19
- The August 20 article reported a close of 24,078.30, down 77 points, or 0.32%, extending the losing streak to seven sessions.
- Nifty levels
- Support was identified at 24,000–24,150 and resistance at 24,270–24,350.
- Bank Nifty levels
- Support was identified at 56,800–57,000 and resistance at 57,500–57,750; the index closed at 57,262.40 in the figures repeated by both articles.
- Technical indicators
- The cited Nifty analysis listed an RSI of 44.67, PCR of 0.81 and India VIX of 11.3875.
- Stock recommendations
- August 19: Data Patterns, Ingersoll-Rand India, Hindustan Foods, Savita Oil Technologies and Apcotex Industries. August 20: Dalmia Bharat Sugar and Industries, Ador Welding, Apollo Pipes, Patel Retail and Shreeji Shipping Global.
Quotes
Sumeet Bagadia
Executive Director at Choice Broking
“Derivatives data also points towards a cautious near‑term setup, with PCR at 0.81 and India VIX at 11.3875, indicating a marginal rise in volatility.”
livemint.com
livemint.com
“The 56,800–57,000 zone continues to be the crucial support area for Bank Nifty, and holding this band would be important to limit further downside.”
livemint.com
Sources
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