Top 5 Breakout Stocks to Buy or Sell Today: Expert Sumeet Bagadia’s Recommendations

<ul>
  <li>Stocks to buy or sell: The frontline indices of the stock market continue to scale new highs, but they have failed to sustain themselves at higher levels, especially the Nifty 50 and the BSE Sensex.</li>
  <li>After climbing to the new peaks, Nifty and Sensex witnessed heavy selling pressure at the closing bell on Monday.</li>
  <li>According to Sumeet Bagadia, Executive Director at Choice Broking, late-hour correction in the Indian market has made some breakout stocks more attractive.</li>
</ul>
<p><strong>Discover the latest breakout stocks to buy today and get expert insights from Sumeet Bagadia on navigating the current market volatility.</strong></p>
<h2><strong>Breakout stocks to buy today</strong></h2>
<p>Sumeet Bagadia of Choice Broking said that the Nifty 50 index once again failed to sustain higher levels after reaching the 23,000 hurdle for the second day in a row. Bagadia said that the 50-stock index has made a strong base at the 22,750 to 22,800 mark, and the Indian stock market bias will continue to remain positive until this support remains sacrosanct. He said Dalal Street's bias may improve once the 50-stock index breaches the immediate hurdle placed at 23,200 on a closing basis.</p>
<h3><strong>Market Volatility and Predictions</strong></h3>
<p>On the India VIX today, Sumeet Bagadia said that the Indian volatility index is in the 19 to 23 range and is expected to remain on the topsy-turvy curve until the Lok Sabha Election 2024 results are declared. This volatility in the Indian stock market, as predicted by the India VIX, may show more volatility on 31st May 2023 as the market will be buzzed around the Lok Sabha Exit Poll expected on 1st June 2024 evening after the end of the 7th phase of Lok Sabha Polls on Saturday this week.</p>
<h2><strong>Sumeet Bagadia's stock recommendations</strong></h2>
<p>Sumeet Bagadia recommends five breakout stocks to buy today: Finolex Cables, Indian Overseas Bank, ASAL, Pudumjee Paper Products, and JBM Auto.</p>
<p><strong>1] Finolex Cables:</strong> Buy at ₹1456, target ₹1550, stop loss ₹1400;</p>
<p><strong>2] IOB:</strong> Buy at ₹74.50, stop loss ₹79.50, stop loss ₹72;</p>
<p><strong>3] ASAL:</strong> Buy at ₹896.55, target ₹950, stop loss ₹865;</p>
<p><strong>4] Pudumjee Paper Products:</strong> Buy at ₹98.7, target ₹105, stop loss ₹95; and</p>
<p><strong>5] JBM Auto:</strong> Buy at ₹2117.20, target ₹2222, stop loss ₹2050.</p>
<h3><strong>Conclusion</strong></h3>
<p>In conclusion, the current market conditions present a mix of opportunities and challenges. While the Nifty 50 and BSE Sensex have faced resistance at higher levels, the late-hour corrections have made certain breakout stocks more attractive. Investors should keep an eye on the support and resistance levels mentioned and consider the recommended stocks by Sumeet Bagadia for potential gains. As always, it is advisable to consult with certified experts before making any investment decisions.</p>