5 days ago
Sumeet Bagadia Names Five Breakout Stocks for August 28
The Indian stock market went down on August 27.
The Sensex and Nifty 50 both lost value, while rising oil prices and global uncertainty affected investor confidence.
Sumeet Bagadia suggested five stocks for possible buying on August 28.
They were Wonderla Holidays, Orkla India, Bharat Heavy Electricals, Adani Power, and Global Health.
His suggestions were based on chart patterns and signs that buyers were becoming more active.
He gave a possible buying price, target price, and stop-loss level for each stock.
The market outlook remained cautious because both major indexes closed near their daily lows.
The article contains a possible mistake in the Bharat Heavy Electricals recommendation because its target and stop-loss are both shown as ₹470.
India’s Sensex fell 539 points and the Nifty 50 dropped 116.90 points on August 27.
Sumeet Bagadia recommended Wonderla Holidays, Orkla India, Bharat Heavy Electricals, Adani Power, and Global Health.
Wonderla Holidays was assigned a buy level of ₹542, target of ₹585, and stop loss of ₹519.
The recommendations were based on breakouts, trendlines, moving averages, and momentum indicators.
The article lists Bharat Heavy Electricals’ target and stop loss both at ₹470, although its technical support is identified near ₹415.
- Who
- Sumeet Bagadia, Executive Director at Choice Broking, made the stock recommendations.
- What
- He recommended five shares for August 28: Wonderla Holidays, Orkla India, Bharat Heavy Electricals, Adani Power, and Global Health.
- Where
- The recommendations concern the Indian stock market.
- When
- The market data refers to Thursday, August 27, 2026, and the recommendations were for Friday, August 28.
- Why
- The stocks were selected because of reported bullish price action, breakouts, trendline tests, moving-average support, and improving momentum.
Key facts
- Sensex close
- 76,933.59, down 539 points or 0.70% on August 27.
- Nifty 50 close
- 24,090.85, down 116.90 points or 0.48%.
- Nifty 50 support
- Immediate support was identified at 23,900–23,980, followed by 23,800.
- Nifty 50 resistance
- Immediate resistance was identified at 24,240–24,300.
- Bank Nifty close
- 57,509.95, down 273.80 points or 0.47%.
- Recommended stocks
- Wonderla Holidays, Orkla India, Bharat Heavy Electricals, Adani Power, and Global Health.
- Market conditions
- The market was affected by mixed global signals, rising oil prices, and continuing geopolitical uncertainty.
Quotes
Sumeet Bagadia
Executive Director at Choice Broking who provided the market outlook
“Although Bank Nifty continues to trade above its broader rising trendline, a sustained break below 57,000 could weaken the prevailing structure and trigger further profit booking.”
livemint.com
“The 24,000 mark remains the key make-or-break level; holding above it could encourage a recovery, whereas a decisive break below may extend weakness towards 23,800–23,600.”
livemint.com
Sources
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