Stocks To Watch On Dalal Street: Sumeet Bagadia Recommends Five Breakout Opportunities

New Delhi: Indian markets opened the week on a cautious note, with benchmark indices under pressure after a bout of selling in recent sessions. Traders on Dalal Street are looking for specific stocks that could break out of chart patterns and offer short-term momentum, according to Sumeet Bagadia, Executive Director at Choice Broking.

Which stocks are on the "breakout buy" list?

Bagadia has highlighted five shares that he believes are showing early signs of strength on technical charts. These picks are aimed at short-term traders who seek momentum moves rather than long-term investors. 

INOX India: Showing strength above key moving averages. Buy near Rs 1,162 with a target of Rs 1,250 and a stop-loss around Rs 1,121.

Ramco Cements: Rebounding from a support zone and poised to break sideways trading. Buy at about Rs 1,082 with a target near Rs 1,160 and stop-loss at Rs 1,044. 

Netweb Technologies India: Technical breakout suggests rising interest; details include buy levels and risk parameters. Buy at about Rs 3,397 with a target near Rs 3,635 and stop-loss at Rs 3,278. 

Sobha: Chart action points to bullish potential. Specific entry and risk levels provided. Buy at about Rs 1,570 with a target near Rs 1,680 and stop-loss at Rs 1,515. 

Onesource Specialty Pharma: Breaking key technical levels, with defined targets for active traders.Buy at about Rs 1,785 with a target near Rs 1,911 and stop-loss at Rs 1,723. 

What’s the market context?

The expert’s call comes as the broader market has lacked clear direction. Global cues and domestic selling pressure have kept major indices under strain, prompting traders to focus on individual stocks with strong technical setups rather than broad market bets.

How should traders use this list?

Bagadia’s recommendations include entry prices, profit targets, and stop-loss levels for each stock. These tools are meant to help traders manage risk while trying to benefit from potential breakout moves. However, markets can be volatile, and such strategies are typically suited for experienced traders with a clear risk plan.

What analysts stress on the side?

Other market analysts also highlight the importance of a stock-specific approach when broader indexes show weak trends. This means watching individual charts and catalysts rather than relying solely on the overall market direction.