Who is Sumeet Bagadia?

He is Executive Director at Choice Broking, offering daily market outlooks and stock recommendations.

What are breakout stocks?

Breakout stocks are those that move above a defined resistance level or price pattern on strong volumes, indicating potential for a sharp upward trend.

How should investors approach breakout stocks?

Experts suggest a stock-specific strategy — look for technically strong charts, confirm volume participation, and keep strict stop-loss levels.

What risk factors should traders keep in mind?

Breakouts can sometimes fail if broader market support is missing. Investors must monitor support levels and global cues before committing higher capital.

Which are the 3 stocks to buy right now in India?

Sumeet Bagadia recommended 5 stocks to buy right now- Aditya Birla Capital, Diffusion Engineers, I G Petrochemicals, Mahindra and Mahindra Financial Services, and Gulf Oil Lubricants India.

What is Sumeet Bagadia's Nifty prediction today?

Nifty has a Sideways-to-Bullish bias with support at 24,500–24,555 and resistance at 24,820–24,900 .

What is Sumeet Bagadia's Bank Nifty prediction today?

Bank Nifty remains Sideways-to-Bullish with support at 57,850–58,000 and resistance at 58,666–58,800 .

Nifty, Bank Nifty Prediction Today: Sumeet Bagadia's Levels

The Indian stock market ended lower on Thursday, September 3, as persistent inflation concerns revived fears that global central banks, including the US Federal Reserve, could maintain higher interest rates to control price pressures.

The Nifty 50 declined 0.17% to close at 23,873.45, while the Sensex fell 0.55% to settle at 76,152. Both benchmark indices extended their losing streak to four consecutive sessions.

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Stock Market Today: Nifty and Bank Nifty Analysis

Nifty 50 Today

The Nifty 50 closed at 23,873.45, down 41 points or 0.17%. The index opened nearly 83 points higher but failed to sustain the gap-up opening. Persistent profit booking pushed Nifty down to close near the day’s low, confirming continued market weakness.

Nifty’s RSI stood at 37.11, compared with its average of 45.27, indicating subdued momentum. The index is now approaching its rising trendline support on the daily chart.

Nifty Levels	Value
Key Support	23,750–23,800
Immediate Resistance	24,000–24,050
Put-Call Ratio	1.13
India VIX	11.34

According to Sumeet Bagadia, Executive Director at Choice Broking, the derivatives setup provides some support. Put open interest is concentrated around 23,800–24,000, while Call open interest at 24,000–24,100 may restrict any immediate recovery.

India VIX eased to 11.34, indicating that market volatility remains relatively controlled. Realty, Media, Private Bank, PSU Bank, Financial Services and Metal stocks gained, while IT, FMCG, Auto, Pharma, Healthcare and Oil & Gas stocks remained under pressure.

A sustained hold above 23,750 could trigger a technical rebound in Nifty. However, a decisive breakdown below 23,750 may extend the ongoing correction.

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Bank Nifty Today

Bank Nifty closed at 57,380.60, gaining 208.60 points or 0.36%. The index opened nearly 325 points higher and touched an intraday high of 57,753.60. However, profit booking gradually erased most of the gains, and Bank Nifty eventually closed near the day’s low.

Despite the weak closing pattern, Bank Nifty continues to trade above its broader rising trendline and important moving-average structure. Its RSI stood at 48.37, compared with the average reading of 50.18, indicating neutral momentum.

Bank Nifty Levels	Value
Immediate Support	57,000–57,220
Key Resistance	57,600–57,750
RSI	48.37
Technical View	Consolidation with cautious bias

Bagadia said Bank Nifty must sustain above the 57,000–57,220 support zone to preserve its broader recovery structure. A decisive breakout above 57,750 could revive buying momentum and push the banking index towards higher levels.

Conversely, a breakdown below 57,000 would weaken the technical structure and increase downside risk. Overall, Bank Nifty remains in a consolidation phase with a cautious bias because the strong opening failed to produce a firm close and momentum indicators remain neutral.

Sumeet Bagadia’s Stocks to Buy on September 4

Sumeet Bagadia has recommended five breakout stocks to buy on Friday, September 4:

Kirloskar Oil Engines
Morepen Laboratories
MSTC
IOL Chemicals and Pharmaceuticals
Vishnu Chemicals

Kirloskar Oil Engines Share Price Target

Recommendation	Level
Buy Price	Rs. 2,267
Target Price	Rs. 2,460
Stop-Loss	Rs. 2,137

Kirloskar Oil Engines offers a potential upside of approximately 8.5% from the recommended buying price. Traders should maintain the specified stop-loss to manage downside risk.

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Sumeet Bagadia’s Breakout stocks

🕗 Last Update: 4 Septmeber 2026, 7.00 AM

Stock Market Today: Nifty and Bank Nifty Analysis

Nifty 50 Today

Bank Nifty Today

Sumeet Bagadia’s Stocks to Buy on September 4

Kirloskar Oil Engines Share Price Target

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