Stocks to buy or sell for trading in Muhurat: Sumit Bagadia recommends five stocks to buy today

Breakout stocks to buy or sell: Following weak sentiment in global markets, the Indian stock market closed lower for the second straight session on Thursday. The Nifty 50 index lost 135 points to close at 24,205, the BSE Sensex corrected 553 points to close at 79,389 and the Nifty Bank index closed 251 points lower at 51,555. Cash market volumes remained stable over the past few days , which indicates a lack of particular conviction among participants on both sides. The small-cap index closed 1.6% higher, although its advance-to-decline ratio remained steady at 1.82:1.

Sumit Bagadia shares can be bought on Muhurat Trading in 2024

Sumit Bagadia, chief executive of Choice Broking, believes that the bias in the Indian stock market is weak and that the Nifty 50 index could fall to 23,450-23,400 if the 50-share index breaks decisively below the support level of 24,000-23,900. A Choice Broking expert said, that the Nifty 50 index may look to retest its recent lows as it has repeatedly failed to clear the resistance above 24,400. Regarding Muhurat trading strategy 2024, Sumit Bagadia suggested a stock-specific approach and asked investors to look at breakout stocks for intraday trading.

Speaking on Muhurat Trading 2024 strategy for the Indian stock market today, Sumit Bagadia said, “Bearish pressure on Dalal Street has eased after the rally on Monday and Tuesday. However, the Indian stock market will remain cautious till Nifty 50.” The index breaks the barrier of 24650-24700. Similarly, the 50-share index bounced back after reaching the level. 24000 mark, which signals that the front index is in the 24000-23900 zone. For Muhurat trading 2024, day traders are advised to take a stock-specific approach and a good option may be to look for breakout stocks for intraday trade.”

In terms of breakout stocks to buy today, Sumit Bagadia has recommended buying these five stocks on Muihurat Trading 2024: Prudent, NPST, JSLL, Akzo Nobel India and Rushil Decor.

Stocks you can buy today

1) Prudent: Buy at ₹3112.70, target ₹3350, stop loss ₹3000;

2) NPST: Buy at ₹3003.75, target ₹3200, stop loss ₹2900;

3) JSLL: Buy at ₹1744.70, target ₹1885, stop loss ₹1690;

4) Akzo Nobel India: Buy at ₹4402.30, target ₹4747, stop loss ₹4250; And

5) Rushil Decor: Buy at ₹36.82, target ₹38.70, stop loss ₹35.50.

Disclaimer: The opinions and recommendations expressed above are those of the individual analysts or brokerage firms and not Mint. We advise investors to consult with certified experts before making any investment decisions.