Breakout stocks to buy or sell: Downside momentum continued in the Indian stock market on Friday after a slight upside bounce on two previous sessions. The Nifty 50 index finished 114 points lower at the 23,090 mark, the BSE Sensex went down 329 points and closed at 76,190, whereas the Bank Nifty Index ended 232 points lower at 48,356. After Thursday's pullback rally, the Mid-cap and the Small-cap indices resumed their downward journey. The Nifty Mid-cap 100 plunged by 1.55%, while the Nifty Small-cap 100 plummeted 2.35%.

This sharp fall in the mid and small-cap space was further reflected in the advance-decline ratio, which stood at 0.36 levels on the BSE, the lowest since 13 January. For January, the Nifty Small-cap Index is down by 9.5% against a 2.35% fall in the Nifty. The Nifty IT index emerged as the best-performing sector for the third straight session, led by gains in stocks like Mphasis, Wipro, and Persistent Systems. Reliance Industries Ltd. contributed the most to the index decline, decreasing 1.4%.

Dr Reddy's Laboratories Ltd. had the most significant drop, falling 5.0%. Among the sectoral Indices, Nifty Reality, Oil & Gas, Healthcare, and Pharma were significant losers, while Nifty IT and FMCG were the only sectors to end in the green. Sumeet Bagadia's breakout stock recommendations Sumeet Bagadia, Executive Director at Choice Broking, believes the Indian stock market bias is cautious as the Nifty 50 index is trading in a small 22,900 to 23,300 range. The Choice Broking expert said the 50-stock index failed to break above the 23,300 hurdle decisively and succumbed to profit-booking pressure.

However, the key benchmark index managed to sustain above the 23,000 mark. Sumeet Bagadia said the Nifty 50 index may try to test the 22,750 to 22,700 level on breaching below 23,000 on a closing basis. On the upper side, for improvement in Dalal Street sentiments, the Nifty 50 index must break above 23,350 on a closing basis, said Bagadia. He advised investors to maintain a stock-specific approach and look at those stocks that look strong on the technical chart pattern.

Speaking on the outlook for the Indian stock market today , Sumeet Bagadia said, "Overall, the Indian stock market bias is cautious as the Nifty 50 index trades in a small 22,900 to 23,300 range. The 50-stock index failed to break above the 23,300 hurdle decisively and succumbed to profit-booking pressure. However, the key benchmark index managed to sustain above the 23,000 mark, which augurs well for a possible bounce back. The Nifty 50 index may test the 22,750 to 22,700 level on breaching below 23,000 on a closing basis.

On the upper side, for improvement in Dalal Street sentiments, the Nifty 50 index must break above 23,350 on a closing basis. As Q3 results 2025 are in full swing, one should look at technically strong shares and maintain a stock-specific approach for intraday trading. Looking at breakout stocks for intraday trading can be a good option for day traders." Regarding breakout stocks to buy today , Sumeet Bagadia recommended buying these five shares: Madhya Bharat Agro Products, United Polyfab Gujarat, Sundaram Brake Linings, Laxmi Goldorna House, and Firstsource Solutions (FSL).

Stocks to buy today 1] Madhya Bharat Agro Products: Buy at $ 292, target $ 313, stop loss $ 282; 2] United Polyfab Gujarat: Buy at $ 178, target $ 192, stop loss $ 172; 3] Sundaram Brake Linings: Buy at $ 1170, target $ 1252, stop loss $ 1129; 4] Laxmi Goldorna House: Buy at $ 539.60, target $ 577, stop loss $ 521; and 5] FSL: Buy at $ 368.90, target $ 395, stop loss $ 256.