1 day ago
Sumeet Bagadia Names Five Breakout Stocks Amid Cautious Market
India’s main stock indexes fell for a third day on September 2, 2026.
Higher oil prices and Middle East clashes made investors worry about inflation.
Sumeet Bagadia said the market could remain weak in the short term.
He identified important support levels for both the Nifty 50 and Bank Nifty.
Even though the broader market looked cautious, he found five stocks showing signs of strength.
These stocks were Raymond, Innova Captab, Clean Science and Technology, Shilpa Medicare, and Gufic BioSciences.
His suggestions included a price to buy, a possible higher target, and a stop-loss level.
A stop-loss is a price that can help limit losses if a stock falls.
These are technical trading views, not guarantees that the shares will rise.
The Nifty 50 fell 0.59% to 23,914.45 on September 2, 2026, while the Sensex declined 0.62% to 76,469.
Sumeet Bagadia said the Nifty’s near-term bias remained cautious to bearish, with support at 23,800 and 23,606.
Bank Nifty dropped 0.41% to 57,172, with 57,000 identified as a crucial support level.
Bagadia recommended Raymond, Innova Captab, Clean Science and Technology, Shilpa Medicare, and Gufic BioSciences for September 3.
The recommendations include specified entry prices, upside targets, and stop-loss levels based on technical indicators and chart patterns.
- Who
- Sumeet Bagadia, Executive Director at Choice Broking, and Indian stock-market investors.
- What
- Bagadia recommended five shares for potential purchase while giving technical outlooks for the Nifty 50 and Bank Nifty.
- Where
- The recommendations concern the Indian stock market.
- When
- The recommendations were for Thursday, September 3, 2026, following trading on September 2, 2026.
- Why
- The five shares showed technical signs such as breakouts, bullish candles, support from moving averages, or positive RSI readings, while the broader market faced pressure from higher oil prices and Middle East clashes.
Key facts
- Nifty 50 close
- 23,914.45, down 141.35 points or 0.59% on September 2, 2026.
- Sensex close
- 76,469, down 0.62%.
- Nifty support and resistance
- Support at 23,800 and 23,606; resistance at 24,050–24,100 and 24,200.
- Bank Nifty close
- 57,172, down 237.60 points or 0.41%.
- Bank Nifty levels
- Support at 57,000, followed by 56,700 and 56,500–56,600; resistance at 57,600–57,800 and 58,000.
- Recommended shares
- Raymond, Innova Captab, Clean Science and Technology, Shilpa Medicare, and Gufic BioSciences.
- Recommendation range
- Entry prices range from ₹439 to ₹1,108, with stated targets from ₹475 to ₹1,200.
Quotes
Sumeet Bagadia
Executive Director at Choice Broking and technical market analyst
“Technically, immediate support is placed at 57,000, followed by 56,700 and the broader 56,500–56,600 zone.”
livemint.com
“From a technical perspective, immediate support is placed at 23,800, followed by the crucial 23,606 zone.”
livemint.com
Sources
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