Top Breakout Stocks to Watch Today: Expert Sumeet Bagadia’s Picks for Strategic Buying and Selling

<ul>
    <li>The domestic benchmark indices, Sensex and Nifty 50, are likely to have a negative start on Friday's trading session, amid weak global cues.</li>
    <li>Given the trends of Gift Nifty, the Indian benchmark indices are off to a slow start. Around 42 points below than the previous closing of the Nifty futures, which was 23,008.00, the Gift Nifty was trading at 22,966.00.</li>
    <li>"The domestic benchmark indices, the Nifty 50 and the Sensex, set fresh closing highs on Thursday due to gains in banking stocks. The nation's budget deficit may be on the decline, as shown by the record dividend paid by the central bank to the government."</li>
</ul>
<p><strong>Indian stock market poised for a cautious start amid global uncertainties. Key insights on Nifty 50 and Sensex movements.</strong></p>
<h2><strong>Breakout Stocks to Buy Today</strong></h2>
<p>Seasoned Executive Director at Choice Broking with a strong track record, Sumeet Bagadia has shared his professional advice on five breakout stocks that are now worth buying: Cochin Shipyard Ltd, Saregama India Ltd, Rail Vikas Nigam Ltd, Olectra Greentech Ltd, and Mazagon Dock Shipbuilders Ltd.</p>
<h3><strong>Cochin Shipyard Ltd</strong></h3>
<p>Buy at ₹1,890.25, target ₹2,000, stop loss ₹1,825.</p>
<h3><strong>Saregama India Ltd</strong></h3>
<p>Buy at ₹466.35, target ₹495, stop loss ₹450.</p>
<h3><strong>Rail Vikas Nigam Ltd (RVNL)</strong></h3>
<p>Buy at ₹372.25, target ₹399, stop loss ₹360.</p>
<h3><strong>Olectra Greentech Ltd</strong></h3>
<p>Buy at ₹1,808.70, target ₹2,010, stop loss ₹1,710.</p>
<h3><strong>Mazagon Dock Shipbuilders Ltd</strong></h3>
<p>Buy at ₹3,125.75, target ₹3,333, stop loss ₹3,020.</p>
<h2><strong>Nifty 50 Outlook</strong></h2>
<p>The market is seeing a 1,000 point rebound from 21,800 levels as FIIs are positioning themselves in the long:short ratio, which is up from 26% longs, according to Soni Patnaik, Assistant Vice President, Equity Derivatives Research, JM Financial Services. So far, Nifty futures have seen 2.5% intraday fresh longs.</p>
<p>"Nifty 50 manages to cross crucial resistance of 22,800+ levels at the back of weekly expiry today and can head towards the 23,000 mark by the month end expiry from current levels. Aggressive put options writing can be seen from base of 22,500 PE to all the way till 22,800 PE forming strong support base at 22,600/22,700 levels now," said Patnaik.</p>
<h3><strong>Conclusion</strong></h3>
<p>In conclusion, the Indian stock market is set for a cautious start amid global uncertainties. Investors should keep an eye on the breakout stocks recommended by experts and monitor the Nifty 50's movements closely. The market's resilience and strategic positioning by FIIs indicate potential upward trends, but caution is advised given the volatile global cues.</p>
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Gideon Wolf
Gideon Wolfhttps://en.coinotag.com/
GideonWolff is a 27-year-old technical analyst and journalist with extensive experience in the cryptocurrency industry. With a focus on technical analysis and news reporting, GideonWolff provides valuable insights on market trends and potential opportunities for both investors and those interested in the world of cryptocurrency.
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