Archive · 8 Sep 2026
Sumeet Bagadia Recommends Five Breakout Stocks for September 8
Indian stock markets fell again on September 7.
Investors were worried about Middle East tensions and higher crude oil prices.
Strong US jobs data also raised concerns that interest rates could rise.
The Nifty 50 and Sensex both ended lower.
Sumeet Bagadia said the market may remain weak in the short term.
He still identified five stocks that he believes could rise after breaking above recent trading ranges.
These are Kiri Industries, Gujarat Themis Biosyn, Supreme Petrochem, Man Industries (India), and Aeroflex Industries.
Each recommendation has a target price and a level where traders should limit losses.
He also warned that some shares may pause or fall temporarily because their momentum indicators are already high.
Indian equities extended their declines on September 7 amid Middle East tensions and elevated crude prices.
The Nifty 50 closed at 23,779.15, while the Sensex ended at 76,132.
Sumeet Bagadia described the near-term outlook for the Nifty 50 and Bank Nifty as cautious to bearish.
Bagadia recommended Kiri Industries, Gujarat Themis Biosyn, Supreme Petrochem, Man Industries (India), and Aeroflex Industries.
The recommendations include specific buy prices, targets, and stop-loss levels, with several stocks already in overbought territory.
- Who
- Sumeet Bagadia, Executive Director at Choice Broking, and Indian equity-market investors.
- What
- Bagadia recommended five stocks to buy and provided technical outlooks for the Nifty 50 and Bank Nifty.
- When
- The recommendations were for Tuesday, September 8, 2026, following the September 7 trading session.
- Where
- Indian stock exchanges and the Indian equity market.
- Why
- The recommendations were based on technical breakouts, moving-average trends, momentum, and support and resistance levels.
Technical Buying Case
Market-Risk Case
Stock outlook
Technical Buying Case
Bagadia said five stocks showed bullish breakouts, positive moving-average structures, or renewed buying interest, creating scope for further gains.
Market-Risk Case
The broader market remained under pressure, and several recommended stocks had overbought RSI readings that could lead to profit booking or consolidation.
Near-term market direction
Technical Buying Case
A sustained breakout in the recommended shares could carry them toward their stated targets.
Market-Risk Case
Bagadia characterized the Nifty 50 and Bank Nifty as cautious to bearish, with breakdowns below key support zones potentially causing further weakness.
- Nifty 50 close
- 23,779.15, down 118.55 points; the article also describes the decline as 0.57% in one section and 0.50% in another.
- Sensex close
- 76,132, down 0.5%.
- Nifty support and resistance
- Support at 23,600–23,750; immediate resistance at 23,950–24,000.
- Bank Nifty close
- 57,088.30, down 281.35 points, or 0.49%.
- Kiri Industries
- Buy at ₹583; target ₹635; stop loss ₹555.
- Gujarat Themis Biosyn
- Buy at ₹429; target ₹465; stop loss ₹405.
- Other recommendations
- Supreme Petrochem: ₹802/₹870/₹755; Man Industries (India): ₹819/₹885/₹775; Aeroflex Industries: ₹558/₹600/₹527, listed respectively as buy price, target, and stop loss.