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

<ul>
  <li>The stock market has shown remarkable resilience, reaching a new peak during Friday's trading session.</li>
  <li>Despite selling pressure in European markets, the Nifty 50 index managed to end flat after hitting a new peak above the 23,000 mark.</li>
  <li>Some stocks managed to give fresh breakouts on Friday, presenting new opportunities for investors.</li>
</ul>
<p><strong>Discover the latest stock market trends and breakout stocks to watch, providing valuable insights for investors looking to navigate the current market landscape.</strong></p>
<h2><strong>Stock Market Today</strong></h2>
<p>The Nifty 50 index has established a strong base at the 22,750 to 22,800 zone, a historically significant support range. This indicates a tendency for the market to rebound from this level. Any market dip should be viewed as a buying opportunity as long as this support remains intact. The India VIX Index, which measures expected market volatility over the next 30 days, has remained flat, suggesting a stable market outlook. A dip in the India VIX could further boost bullish sentiment among investors.</p>
<h3><strong>Weekly Outlook for Nifty</strong></h3>
<p>Aditya Gaggar, Director of Progressive Shares, noted that the Nifty 50 Index has achieved a much-anticipated breakout from an Ascending Triangle Formation on the weekly timeframe. This pattern suggests a continuation of the current uptrend, with an approximate target of 23,850. On the downside, immediate support is positioned at 22,800.</p>
<h2><strong>Stocks in Focus</strong></h2>
<p>Aditya Gaggar also highlighted several stocks from various sectors that are showing strong bullish patterns. In the Auto segment, Maruti and Motherson Sumi have shown significant breakouts. The Energy segment has surpassed previous resistance levels, with BPCL, Coal India, and HPCL leading the charge. The Metal segment remains strong, and a buy-on-dips strategy is recommended. However, the rally in Defense and Ship Building stocks appears overstretched, and profit booking is advised.</p>
<h2><strong>Breakout Stocks Today</strong></h2>
<p>Sumeet Bagadia of Choice Broking identified several breakout stocks that remain attractive despite recent profit booking. These stocks are available at discounted levels and show positive chart patterns. The recommended stocks are:</p>
<p><strong>1] Aegis Logistics:</strong> Buy at ₹710, target ₹755, stop loss ₹685;</p>
<p><strong>2] Paras Defence:</strong> Buy at ₹859, target ₹910, stop loss ₹830;</p>
<p><strong>3] Isgec:</strong> Buy at ₹1188, target ₹1265, stop loss ₹1145;</p>
<p><strong>4] Alicon:</strong> Buy at ₹1121, target ₹1185, stop loss ₹1085;</p>
<p><strong>5] Amara Raja Energy:</strong> Buy at ₹1210, target ₹1280, stop loss ₹1165.</p>
<h3><strong>Conclusion</strong></h3>
<p>The stock market continues to show resilience with several stocks breaking out and presenting new opportunities for investors. The Nifty 50 index remains strong, and key support levels provide a safety net for potential dips. Investors are advised to consider the highlighted breakout stocks and maintain a strategic approach to maximize gains in the current market environment.</p>