The Indian stock market is riding a strong bullish wave — and market expert Sumeet Bagadia has spotted five breakout stocks worth keeping on your radar today.
Markets on a Winning Streak
Indian equities are on fire. Both the NSE Nifty 50 and the BSE Sensex extended their upward run for a fifth straight session on Friday, clocking weekly gains of around 4.2%. It’s the biggest weekly surge Nifty has seen in over four years.
Nifty 50 ended Friday up 0.69%, settling at 23,350.4. The BSE Sensex wasn’t far behind, rising 0.73% to close at 76,905.51 — hitting six-week highs for both indices. The rally wasn’t limited to large caps either. The BSE small-cap index soared 2.05%, and mid-caps climbed 1.14%.
Investors are buzzing with optimism, and Sumeet Bagadia, Executive Director at Choice Broking, says the bullish sentiment isn’t cooling off anytime soon.
Five Breakout Stocks Bagadia Is Betting On
Bagadia is bullish on stocks showing strong technical breakouts. He says Nifty looks poised to target 23,800 — and even 24,200 — in the coming days. For those hunting for intraday or short-term opportunities, these five stocks are his top picks:
- Transformers and Rectifiers (India)
- Home First Finance Company India
- General Insurance Corporation of India
- PCBL Chemical
- Quess Corp
Why These Stocks?
Let’s break it down.
Transformers and Rectifiers (India)
This power equipment maker has surged on strong volumes, signaling a bullish breakout. Bagadia highlights that the stock recently breached key resistance levels, suggesting further upside potential.
Home First Finance Company India
The affordable housing finance player continues to ride India’s housing boom. Its stock has shown consistent strength, forming a solid base before pushing higher. Bagadia notes that a clear upward trend supports a bullish call.
General Insurance Corporation of India (GIC Re)
With renewed interest in insurance stocks, GIC Re stands out. Bagadia points to the stock’s robust upward momentum and improving technicals, making it a promising breakout candidate.
PCBL Chemical
The carbon black manufacturer is attracting attention after breaking past resistance zones. Strong volume spikes indicate a possible sustained rally, says Bagadia.
Quess Corp
The staffing and business services giant has been rebounding after a period of consolidation. Bagadia sees upside as the stock pushes past key technical levels, supported by improving market sentiment.
What’s Driving the Bullish Sentiment?
Several factors are fueling the market’s rally:
- Foreign Institutional Inflows (FII): After months of selling, FIIs are back, pumping fresh capital into Indian equities.
- Strong domestic growth: India’s economic resilience and corporate earnings are holding steady.
- Sectoral strength: Banking, IT, and infrastructure stocks are leading the charge, driving broader market optimism.
Expert Advice: Play It Smart
Bagadia remains optimistic but advises caution. While technicals look strong, he warns investors to stay agile. With Nifty eyeing 24,200, market volatility can’t be ruled out.
For those eyeing short-term gains, these breakout picks offer compelling setups — but keeping an eye on global cues and economic data remains crucial.
