3 days ago
Bagadia Names Four Breakout Stocks Amid Bearish Index Outlook
Sumeet Bagadia picked four shares that he believes could rise soon.
He based the picks on chart patterns, trading volume and momentum indicators.
The companies are Balrampur Chini Mills, Datamatics Global Services, Castrol India and Cyient.
Each recommendation includes a price to buy, a level to limit losses and a possible target.
The article contains conflicting stop-loss information for Castrol India.
It first gives ₹792, but later calls ₹192 the key downside level.
Bagadia expects the Nifty to stay between 22,900 and 23,370 unless it breaks out of that range.
He expects the Bank Nifty to trade between 55,000 and 56,000 with a sideways-to-bearish bias.
Some sectors showed strength, but others remained under pressure.
Sumeet Bagadia recommended Balrampur Chini Mills, Datamatics Global Services, Castrol India and Cyient for near-term buying.
Balrampur Chini Mills was recommended at ₹686, with a ₹657 stop-loss and ₹750 target.
Datamatics Global Services was recommended at ₹808, with a ₹765 stop-loss and ₹890 target.
Castrol India was recommended at ₹202 with a ₹221 target; the article lists ₹792 as the stop-loss but later identifies ₹192 as the downside level.
Cyient was recommended at ₹1,096, with a ₹1,044 stop-loss and ₹1,200 target, while Nifty and Bank Nifty retained sideways-to-bearish outlooks.
- Who
- Sumeet Bagadia, Executive Director at Choice Broking, made the recommendations.
- What
- Bagadia recommended four stocks for near-term buying and gave technical outlooks for the Nifty and Bank Nifty.
- Where
- The recommendations concern Balrampur Chini Mills, Datamatics Global Services, Castrol India and Cyient, alongside the Nifty and Bank Nifty.
- When
- The recommendations apply to the near term, with index ranges given for the next session.
- Why
- He cited technical setups, breakouts, trading volume and improving price momentum.
Stock-Picking Case
Market-Caution Case
Near-term trading direction
Stock-Picking Case
Bagadia’s four stock recommendations are supported by reported breakouts, bullish candlestick patterns, moving-average signals, volume and improving momentum.
Market-Caution Case
Bagadia expects the broader Nifty and Bank Nifty to remain sideways to bearish until their stated resistance or support ranges are decisively breached.
Market participation
Stock-Picking Case
Consumer durables, realty and auto showed positive momentum, according to Bagadia.
Market-Caution Case
Information technology, healthcare and oil and gas remained under pressure, while overall sectoral performance was mixed.
Castrol India risk level
Stock-Picking Case
The recommendation lists a ₹202 entry and ₹221 target, with ₹192 later identified as the key downside reference.
Market-Caution Case
The article also lists ₹792 as Castrol India’s stop-loss, a figure that conflicts with the ₹202 entry and the later ₹192 downside level.
Key facts
- Recommended stocks
- Balrampur Chini Mills, Datamatics Global Services, Castrol India and Cyient
- Balrampur Chini Mills
- Buy at ₹686; stop-loss ₹657; target ₹750
- Datamatics Global Services
- Buy at ₹808; stop-loss ₹765; target ₹890
- Castrol India
- Buy at ₹202; target ₹221; the article gives conflicting downside levels of ₹792 and ₹192
- Cyient
- Buy at ₹1,096; stop-loss ₹1,044; target ₹1,200
- Nifty outlook
- Sideways-to-bearish; support at 22,900–23,000 and resistance at 23,300–23,370
- Bank Nifty outlook
- Sideways-to-bearish; support at 55,000–55,200 and resistance at 55,750–56,000
Quotes
Sumeet Bagadia
Executive Director at Choice Broking who provided the market outlook and stock recommendations.
“Nifty is likely to retain a sideways to bearish bias, with immediate support placed at 22,900–23,000 and resistance at 23,300–23,370. A sustained move above 23,370 could provide room for a recovery towards higher levels, whereas a decisive break below 22,900 may resume the broader selling pressure. The expected trading range for the next session is 22,900–23,370.”
livemint.com
“For the near term, 55,000–55,200 will remain the key support zone, while 55,750–56,000 is likely to act as the immediate resistance area. A sustained move above 56,000 could improve the short-term structure, while a break below 55,000 may increase selling pressure.”
livemint.com
Sources
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