Indian equity markets witnessed a broad-based sell-off on Thursday, mirroring the weakness in global markets. Mounting geopolitical tensions, growing apprehensions over trade tariffs, and a bleak outlook for global economic growth weighed heavily on investor sentiment.
The benchmark indices ended the day deep in the red. The BSE Sensex declined by 823 points, or 1%, closing at 81,691.98. Meanwhile, the Nifty 50 slipped by 253 points, or 1.01%, settling at 24,888.20. The market downturn was not limited to large-cap stocks—mid- and small-cap indices also saw sharp declines. The BSE Midcap index dropped 1.52%, while the Smallcap index retreated by 1.38%.
According to Sumeet Bagadia, Executive Director at Choice Broking, the sentiment in Indian equities has turned cautious after the Nifty 50 breached the psychological 25,000 mark. “The index has now established a base around 24,500 and faces resistance near 25,200. A decisive move beyond this range will determine the next directional trend. Until then, traders should adopt a stock-specific approach,” Bagadia advised.
Highlighting opportunities in the current market scenario, Bagadia recommended five breakout stocks that appear strong on technical charts:
- Sree Rayalaseema Hi-Strength Hypo – Buy at ₹671.1, with a target of ₹720 and a stop loss at ₹650
- Nava – Buy at ₹560.25, aiming for a target of ₹600, and a stop loss at ₹540
- Rainbow Children’s Medicare – Buy at ₹1458.2, with a target price of ₹1555, and stop loss set at ₹1410
- Suven Life Sciences – Buy at ₹260.55, targeting ₹277, and stop loss at ₹250
- Privi Speciality Chemicals – Buy at ₹2360.9, with a target of ₹2555, and a stop loss at ₹2277
Bagadia emphasized that in a volatile market, selecting technically strong stocks with breakout potential can provide better risk-adjusted returns. As uncertainty looms in global and domestic markets, investors are advised to tread cautiously and keep a close watch on support and resistance levels.
