Breakout stocks to buy or sell: Sumeet Bagadia recommends five shares to buy today — 17 July 2026

Buy or sell stocks: Domestic benchmark indices ended largely unchanged on Thursday, July 16, as investor sentiment remained subdued amid weak global cues and rising geopolitical tensions between the US and Iran.

The BSE Sensex edged up by just 1 point to close at 77,186.87, while the NSE Nifty 50 slipped 6 points to settle at 24,072.75.

Nifty 50 ended the session at 24,072.75, slipping 5.75 points (-0.02%) after a choppy trading day. The index traded in a narrow range, touching an intraday high of 24,186.50 before profit booking in the second half pulled it down to 24,050.00. However, buying interest near lower levels helped the index recover most of the losses by the close, reflecting continued support around the 24,000 mark. Ongoing geopolitical tensions kept investors cautious, resulting in subdued market participation.

According to Sumeet Bagadia, Executive Director at Choice Broking, Nifty formed a small bodied candle within the previous day’s range, highlighting indecision near the current resistance zone while holding above its short-term moving average. Sector-wise, Media, Consumer Durables, Chemicals and IT outperformed, whereas Banking, Financial Services, Realty and PSU Banks witnessed mild weakness.

“The RSI remained stable at 52.15, while the MACD continued above the signal line, indicating a positive undertone despite slowing momentum. The PCR stood at 1.07, with 24,100–24,200 CE and 24,000–24,100 PE emerging as key OI zones. Immediate support is placed at 23,900–23,950, while 24,250–24,300 remains the crucial resistance,” said Bagadia.

Bank Nifty settled at 57,582.25, declining 175.60 points (-0.30%) in a choppy trading session. The index started the day on a slightly positive note but failed to sustain higher levels as selling emerged during the session. Although intraday weakness persisted, the index remained above its immediate support area and eventually closed near the middle of the day's trading range, indicating a lack of strong directional momentum.

Bagadia noted that the index formed a small bearish candle, reflecting profit booking and a pause in the recent recovery.

“Despite the short-term softness, the index continues to trade above its important medium-term moving averages, keeping the broader structure constructive. Support is seen at 57,000–57,200, while 57,900–58,000 is expected to act as the immediate hurdle. Holding above support could encourage renewed buying interest, whereas a decisive breach may result in further corrective moves,” Bagadia added.

Sumeet Bagadia recommends five breakout shares to buy on Friday, 17 July: Tanla Platforms, India Nippon Electricals, Apcotex Industries, Info Edge (India), and Venus Pipes and Tubes.

1] Tanla Platforms: Buy at ₹588, Target ₹635, Stop Loss ₹560

Tanla Platforms has registered a decisive breakout above its recent consolidation range above 570, indicating a revival in bullish momentum after months of corrective price action. The stock is now trading above its key EMAs, reflecting a strong improvement in both short and long-term trend structure. The latest bullish candle has emerged with a noticeable pickup in volumes, suggesting fresh accumulation at higher levels.

The moving averages have also aligned positively, reinforcing the strength of the ongoing uptrend. RSI has strengthened to around 66, highlighting improving momentum while still leaving room for further upside. A sustained move above support zone could trigger a rally towards ₹635 in the near term. On the downside, ₹560 remains a key support level and should be maintained as the stop-loss to protect against any short-term weakness.

2] India Nippon Electricals: Buy at ₹1206, Target ₹1300, Stop Loss ₹1150

India Nippon Electricals continues to exhibit a strong bullish structure, with the stock consistently forming higher highs and higher lows after a sharp breakout from its recent consolidation range above 1100. The price is firmly holding above all its key moving averag...