Breakout stocks to buy or Sell – Sumeet Bagadia

The Indian stock market is likely to open range-bound with a mild positive bias, led by continued strength in IT stocks after Infosys’ upgraded earnings guidance and steady support from select banking names. However, the upside may remain limited due to persistent FII selling, global tariff-related uncertainty and ongoing geopolitical risks, keeping risk appetite cautious. Volatility could stay high as Q3 earnings announcements run alongside global macro headlines. While steady DII inflows may cushion dips, near-term direction will remain sensitive to FII flows and external cues.

Stock market outlook (Sumeet Bagadia – Choice Broking)

Sumeet Bagadia believes the broader market tone is sideways to positive, with Nifty 50 trading in a tight band of 25,500–25,900. A clear trend may emerge only after a breakout above 25,900 or a breakdown below 25,500.

Nifty 50 view:
Bagadia said Nifty is trading below its 20, 50 and 100 EMA, indicating weak short-term momentum, while the 200 EMA near 25,940 remains a key overhead hurdle. Recent candles indicate a mild recovery attempt, but the pattern of lower highs suggests the move is still corrective. Immediate resistance is seen at 25,800–25,850, followed by a stronger supply zone near 25,900. On the downside, 25,500–25,550 is an important support region, and a break below this could bring fresh pressure.

Bank Nifty view:
Bagadia noted Bank Nifty has formed a short-term higher-low structure and has regained the 20 and 50 EMA, signalling improving near-term momentum. Buyers are defending the 59,000 zone strongly, but the index is nearing a supply area close to prior breakdown levels. Immediate resistance lies at 60,300–60,400; a decisive breakout and acceptance above this band could open further upside. On the downside, 59,700–59,800 is the first support, while 59,600–59,500 remains the crucial make-or-break zone; a break below this could negate the recovery attempt.