1 week ago
Sumeet Bagadia Names Five Breakout Stocks to Buy Today
Sumeet Bagadia suggested five stocks that may rise based on their recent price charts.
The stocks are Hindustan Zinc, Netweb Technologies India, ICICI Prudential Life Insurance, Prime Focus, and Power Grid.
Each stock has a suggested buying price, target price, and stop-loss level.
A target price is the level where an investor may consider taking a profit.
A stop loss is a price level used to limit possible losses.
The Nifty 50 ended almost flat but remained above an important support zone.
The Bank Nifty performed better and stayed above key moving averages.
High crude oil prices, stalled US-Iran negotiations, and rising US bond yields affected market sentiment.
Bagadia said investors should watch support and resistance levels before making decisions.
Sumeet Bagadia recommended Hindustan Zinc, Netweb Technologies India, ICICI Prudential Life Insurance, Prime Focus, and Power Grid for August 24.
The Sensex gained 3 points to close at 77,540.83, while the Nifty 50 rose 20.15 points to 24,252 on August 21.
The Nifty 50 remained range-bound, with support at 24,000–24,050 and resistance near 24,350–24,500.
The Bank Nifty rose 266.05 points to 57,761.95, with support at 57,250–57,430 and resistance at 57,880–58,000.
Each recommendation includes a target price and stop loss intended to help manage potential downside risk.
- Who
- Sumeet Bagadia, Executive Director at Choice Broking, and investors considering the five stock recommendations.
- What
- Bagadia recommended five breakout stocks and provided technical levels, targets, and stop losses.
- Where
- The recommendations concern Indian stock markets, including the Sensex, Nifty 50, and Bank Nifty.
- When
- The recommendations were for Monday, August 24, 2026; the market data cited was from Friday, August 21.
- Why
- The recommendations were based on technical indicators including price patterns, moving averages, RSI readings, and trading volumes.
Key facts
- Recommended stocks
- Hindustan Zinc, Netweb Technologies India, ICICI Prudential Life Insurance, Prime Focus, and Power Grid Corporation of India
- Nifty 50 close
- 24,252.00, up 20.15 points or 0.08% on August 21
- Sensex close
- 77,540.83, up 3 points on August 21
- Bank Nifty close
- 57,761.95, up 266.05 points or 0.46%
- Nifty support
- 24,000–24,050
- Nifty resistance
- 24,350–24,500
- Market sentiment factors
- High crude oil prices, stalled US-Iran negotiations, and rising US bond yields
Quotes
Sumeet Bagadia
Executive Director at Choice Broking who provided Nifty 50 technical analysis
“On the derivatives front, PCR at 1.08 indicates a relatively balanced-to-positive setup. The highest Put OI concentration around 24,200–24,000 provides a cushion on declines, while significant Call OI between 24,300–24,500 is likely to act as an overhead hurdle. The 24,350–24,400 zone is therefore crucial on the upside, coinciding with the 50-DMA area. A sustained move above this band could strengthen the recovery towards 24,500, whereas failure to hold 24,000 may bring renewed selling pressure.”
livemint.com
“On the downside, 57,250–57,430 remains the immediate support area, and holding this zone would keep the recent higher-low structure intact. On the higher side, 57,880–58,000 is the key resistance band, where sustained acceptance would be required for a fresh upside breakout.”
livemint.com
Sources
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