Investment Strategist Sumeet Bagadia Recommends Five Stocks for Consideration

Indian Stock Market Update

The Indian stock market remained largely range-bound on [date], with the Nifty 50 ending marginally higher as the ongoing consolidation within the 25,350–25,700 corridor continues to define the near-term direction. This band now serves as a crucial support–resistance zone, reflecting a market that is stabilising but lacking decisive momentum.

Sectoral Performance

Sectoral performance was broadly muted, with the exception of the pharma sector, which stood out with a 0.9% gain during the session and nearly 6.3% gain over the past month. The outperformance was driven by improving sentiment following recent reductions in US tariff rates, which provided relief to export-oriented pharmaceutical companies and sparked selective accumulation.

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Market Sentiment

According to Sumeet Bagadia, Executive Director at Choice Broking, the undertone of Dalal Street reflects intraday volatility and indecision among market participants. The immediate resistance for Nifty today is placed in the 25,600–25,650 zone, while a strong support base is visible around 25,300–25,350.

Derivatives Segment

In the derivatives segment, significant put writing was observed at the 25,400 strike, along with aggressive call writing at the 25,700 strike. Traders are advised to stay cautious near key support zones and wait for a decisive breakout above resistance levels before initiating fresh directional positions.

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Bank Nifty

Expecting the same trade pattern for the Bank Nifty today, Sumeet Bagadia said that immediate resistance is placed in the 61,400–61,500 zone, while the 60,800–60,900 range continues to act as a crucial support area for maintaining near-term stability.

Breakout Stocks

Sumeet Bagadia recommended the following five breakout stocks for intraday trading:

1. IndusInd Bank: Buy at ₹965, Target ₹1040, Stop Loss ₹930.
2. Jamna Auto: Buy at ₹148.25, Target ₹162, Stop Loss ₹142.50.
3. Engineers India: Buy at ₹224, Target ₹240, Stop Loss ₹216.
4. Linde India: Buy at ₹6,895, Target ₹7,400, Stop Loss ₹6,636.
5. Man Industries: Buy at ₹450, Target ₹487, Stop Loss ₹434.