As the Indian stock market begins the second day of 2025, investors are keen to identify breakout stocks that could yield significant returns. Sumeet Bagadia, Executive Director at Choice Broking, has outlined four stocks that are recommended for purchase today. This article will explore these recommendations and provide insights into the current market conditions.
Current Market Overview
The Indian stock market showed positive momentum on January 1, 2025, with a notable buying interest. The Nifty 50 index closed 98 points higher at 23,742, while the BSE Sensex surged 435 points to finish at 78,574. The Nifty Bank index also gained 235 points, closing at 51,096. Additionally, the broader markets demonstrated strength, with the Nifty mid-cap 100 and small-cap 100 indices increasing by 0.4% and 1%, respectively.
Market Sentiment and Outlook
Sumeet Bagadia believes that the bias in the Indian stock market has improved following a rebound in the Nifty 50 index from its support level of 23,500. However, he cautions that the index is still facing a significant resistance level at 23,850. According to Bagadia, a decisive break above this resistance could signal a fresh bull trend in the market.He stated, “Overall, the Indian stock market bias has improved after the Nifty 50 index rebound from 23,500 support. However, it’s better to wait for a fresh breakout above 23,850 before making substantial investments.”
Recommended Breakout Stocks
Here are Sumeet Bagadia’s top four stock recommendations for January 2, 2025:
1. Jindal Worldwide Ltd.
- Buy Price: ₹422.50
- Target Price: ₹450
- Stop Loss: ₹405
Jindal Worldwide is engaged in manufacturing textiles and has shown promising growth potential due to increasing demand in both domestic and international markets.
2. NDR Auto Components Ltd.
- Buy Price: ₹747
- Target Price: ₹805
- Stop Loss: ₹720
NDR Auto Components specializes in manufacturing automotive parts and components. With the automotive sector recovering post-pandemic, this company is well-positioned for growth.
3. Jost’s Engineering Company Ltd.
- Buy Price: ₹618.90
- Target Price: ₹655
- Stop Loss: ₹595
Jost’s Engineering provides engineering solutions and services across various industries. Its strong order book and robust business model make it an attractive investment option.
4. Savita Oil Technologies Ltd.
- Buy Price: ₹565.35
- Target Price: ₹610
- Stop Loss: ₹545
Savita Oil Technologies is involved in manufacturing specialty oils and lubricants. The company’s focus on innovation and quality positions it favorably for future growth.
Conclusion
As we move into January 2025, Sumeet Bagadia’s recommendations provide valuable insights for investors looking to capitalize on breakout stocks in the Indian market. The suggested stocks—Jindal Worldwide, NDR Auto Components, Jost’s Engineering, and Savita Oil Technologies—offer promising targets with defined stop-loss levels to manage risk effectively.
Disclaimer: This article is intended for informational purposes only and does not constitute financial advice. Always conduct your own research or consult with a financial advisor before making investment decisions. Investments in securities are subject to market risks; read all related documents carefully before investing.
