Breakout stocks to buy or sell: Sumeet Bagadia recommends five shares to buy today — January 21, 2025

Breakout stocks to buy or sell: The Indian stock market indices closed higher following a strong rally in banking and metal stocks on Monday. The Nifty 50 index closed 0.61 per cent higher at 23,344.75 points, compared to 23,203.20 points at the previous stock market session.

The BSE Sensex closed 0.59 per cent higher at 77,073.44 points after Monday's trading session, compared to 76,619.33 points at the previous market close. 

Sumeet Bagadia's breakout stocks to buy today

Sumeet Bagadia, Executive Director at Choice Broking, believes that the Nifty 50 index needs to break above 23,500 decisively. He advised investors to maintain a stock-specific strategy as the Q3 results are underway. 

On the outlook for the Indian stock market today, Sumeet Bagadia said, “Overall, the Indian stock market sentiment has improved as the Nifty 50 index has closed above 23,300 mark. However, for further improvement in Dalal Street's mood, the 50-stock index needs to break above 23,500 on a decisive basis. So, investors are advised to maintain stock-specific strategy as Q3 results are underway. One can look at those stocks that are looking strong in technical chart and also look at breakout stocks for intraday trading.”

Regarding breakout stocks to buy today, Sumeet Bagadia recommended buying Garden Reach Shipbuilders & Engineers, Shyam Metalics and Energy, Bharat Dynamics , Indegene, and Jammu & Kashmir Bank.

Shares to buy today 

1. Garden Reach Shipbuilders & Engineers Ltd. (GRSE): Buy at ₹1,591.55; Target at ₹1,703; Stop Loss at ₹1,535. 

2. Shyam Metalics and Energy Ltd. (SHYAMMETL): Buy at ₹804.60; Target at ₹861; Stop Loss at ₹776. 

3. Bharat Dynamics Ltd. (BDL): Buy at ₹1,329.25; Target at ₹1,422; Stop Loss at ₹1,283. 

4. Indegene Ltd. (INDGN): Buy at ₹673.75; Target at ₹721; Stop Loss at ₹650. 

5. Jammu & Kashmir Bank Ltd. (J&KBANK): Buy at ₹97.96; Target at ₹105; Stop Loss at ₹94. 

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.