Breakout stocks to buy or sell: The Indian stock market is expected to open on a range-bound note with a mild positive bias, supported by continued strength in IT stocks following Infosys’ upgraded earnings guidance and steady resilience in the banking sector. However, upside is expected to remain capped by persistent FII outflows, global tariff uncertainties and geopolitical concerns, keeping overall risk appetite cautious. Volatility is likely to stay elevated as Q3 earnings announcements coincide with global macro and geopolitical headlines. While steady DII inflows could cushion any declines, near-term direction will remain highly sensitive to FII flows and external cues.
Stock market outlook
Sumeet Bagadia, Executive Director at Choice Broking, believes the Indian stock market is sideways to positive as the Nifty 50 index is trading in a tight 25,500 to 25,900 range. A bullish or a bearish trend can be assumed on the breakage of either side of this range.
Speaking on the outlook of the Nifty 50 index, Sumeet Bagadia said, “The Nifty 50 index is currently trading below the 20, 50, and 100 EMA, reflecting weak short-term momentum, while the 200 EMA near 25,940 remains a key overhead resistance. Recent candles show a mild recovery attempt, but the structure still reflects lower highs, suggesting that the move is corrective rather than trend-reversing. Immediate resistance is placed at 25,800–25,850, followed by a stronger supply zone near 25,900. On the downside, 25,500–25,550 remains an important support area; a breakdown below this could invite further pressure.”
On the outlook of the Bank Nifty index, Bagadia said, “The Bank Nifty index has formed a short-term higher low structure, followed by a steady recovery. The index has moved back above the 20- and 50-EMA, suggesting a return of short-term momentum. The recovery from the recent swing low near 59,000 indicates that buyers are actively defending this zone. However, the price is still approaching a supply area near prior breakdown levels, keeping the structure cautious. Immediate resistance is placed around 60,300–60,400, where selling pressure may re-emerge. A decisive breakout and acceptance above this zone could open the door to further upside. On the downside, 59,700–59,800 acts as the first line of support, while 59,600–59,500 remains a crucial breakdown level; a breach below this could negate the recovery attempt.”
Stocks to buy today
Regarding breakout stocks to buy today, Sumeet Bagadia recommended these five shares: UPL, Tech Mahindra, BoB, JSW Steel, Grasim.
1] UPL: Buy at ₹790.15, Target ₹855, Stop Loss ₹761.
UPL share price is trading around ₹790.15 and is showing a positive technical outlook with a strong uptrend and a bullish pullback structure on the daily chart. Price action reflects higher highs and higher lows, indicating trend continuation. The stock is trading above its key short- and medium-term EMAs, which are sloping upward and providing dynamic support. RSI is holding above the neutral zone and rising, highlighting improving bullish momentum. On sustained strength, the stock can move towards a target of ₹855, while a stop-loss can be placed near ₹761 to manage downside risk.
2] Tech Mahindra: Buy at ₹1670.50, Target ₹1815, Stop Loss ₹1600.
The stock shows a positive technical outlook, with a clear flag and pole pattern on the daily chart, indicating a strong bullish continuation setup. Price action reflects higher highs and higher lows, confirming the ongoing uptrend. The stock is trading above its key short- and medium-term EMAs, which are sloping upward and providing strong dynamic support. RSI is holding in the bullish zone and rising, signalling sustained momentum. On a successful breakout, the stock can move towards a target of ₹1815, while a stop-loss can be placed near ₹1600 to manage downside risk.
3] Bank of Baroda (BoB): Buy at ₹308.25, Target ₹330, Stop Loss ₹295.
The stock is maintaining a strong bullish trend on the daily chart, marked by a consistent sequence of higher highs and higher lows. After a prolonged mid-year consolidation, the stock has witnessed a decisive trend-resumption breakout and is now trading at all-time highs.
4] JSW Steel: Buy at ₹1187, Target ₹1280, Stop Loss ₹1145.
The stock is exhibiting a well-defined bullish trend on the daily chart, supported by a strong price structure and alignment with moving averages. After a corrective phase from recent highs, the stock has staged a healthy pullback and rebound, indicating renewed buying interest at lower levels.
5] Grasim Industries: Buy at ₹2809, Target ₹3000, Stop Loss ₹2700.
The stock is currently in a range-bound to mildly bullish structure within a broader uptrend. The stock has been consolidating after a strong prior rally, indicating a time-based correction rather than price-based damage.
The price is hovering near the 20 EMA and 50 EMA, suggesting short-term indecision, while the 100 EMA and 200 EMA continue to slope upward and act as strong medium- to long-term support, preserving the overall bullish framework.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
