Breakout stocks to buy or sell: Sumeet Bagadia recommends five shares to buy today - 23 June 2026

Buy or sell stocks: Domestic benchmark indices closed modestly higher on Monday, June 22, supported by improving investor sentiment amid reports of progress in US-Iran peace negotiations and easing crude oil prices.

The Sensex gained 291 points, or 0.38%, to finish at 77,094, while the Nifty 50 advanced 90 points, or 0.37%, to close at 24,102.90.

Indian equity benchmark Nifty index witnessed a positive close on 22nd June 2026. The index opened with a gap-up of 93.50 points at 24,106.60 compared to the previous close of 24,013.10, reflecting positive sentiment at the start of the session. After the gap-up opening, the index continued its upward momentum and registered its intraday high of 24,168.05 during the first half. However, profit booking emerged from higher levels thereafter, and selling pressure intensified towards the latter part of the session. The index gradually drifted lower and touched an intraday low of 24,073.15 before settling at 24,102.90, ending the day with a gain of 89.80 points or 0.37%.

According to Sumeet Bagadia, Executive Director at Choice Broking, on the daily timeframe, the index formed a gravestone doji-like candlestick pattern, indicating rejection from higher levels despite ending the day in positive territory. The long upper shadow suggests that sellers became active near higher levels and restricted further upside.

“From a technical perspective, immediate support is placed in the 23,950–24,000 zone, while resistance is observed in the 24,200–24,250 range. The Relative Strength Index (RSI) stands at 59.65, indicating positive momentum and improving market sentiment while remaining below overbought territory. In the derivatives segment, notable call writing was observed at the 24,100 and 24,200 strikes, while put writing was concentrated at the 24,100 and 24,000 levels, suggesting immediate support around the 24,000 zone and resistance near higher strike levels,” Bagadia said.

The Bank Nifty index opened with a gap-up of 221.15 points at 57,906.90 compared to the previous close of 57,685.75, indicating strength in the banking space at the opening bell. However, profit booking emerged during the first half and dragged the index to its intraday low of 57,720.10. Buying interest re-emerged in the second half, helping the index recover steadily and register its intraday high of 58,009.10. Bank Nifty eventually settled at 57,935.60, ending the day with a gain of 249.85 points or 0.43%.

Bagadia noted that on the daily timeframe, Bank Nifty formed a dragonfly doji-like candlestick pattern, indicating strong buying support at lower levels. The sharp recovery from the day's low and close in positive territory suggest that buyers remained active despite intermittent profit booking.

“From a technical perspective, immediate support is placed in the 57,600–57,700 zone, while resistance is observed in the 58,200–58,250 range. The Relative Strength Index (RSI) stands at 69.14, indicating strong momentum and continued bullish undertones in the banking space,” he said,

He further said that markets witnessed a range-bound yet positive session with both benchmark indices opening higher and maintaining gains despite intermittent profit booking.

While Nifty formed a gravestone doji-like pattern, indicating resistance near higher levels, Bank Nifty displayed resilience by recovering strongly from intraday weakness and forming a dragonfly doji-like structure. Going forward, sustained movement above immediate resistance levels will be crucial for extending the ongoing bullish momentum. At the same time, support zones near recent lows continue to act as important demand areas and are expected to provide stability in the short term, he said.

Sumeet Bagadia recommends five shares to buy on Monday, 23 June: Privi Speciality Chemicals, Mahindra Logistics, Aditya Birla Capital, Ajanta Pharma, and AIA Engineering.

1] Privi Speciality Chemicals: Buy at ₹3656, Target ₹4025, Stop Loss ₹3470

Privi Speciality Chemicals is showing strong bullish momentum after delivering a breakout above its previous swing high and sustaining firmly above the breakout zone. Currently trading around ₹3656, the stock is trading at all-time highs, reflecting robust buying interest and a strong underlying trend. It continues to trade above all key EMAs, reinforcing the positive price structure and trend strength. RSI is at 72.28 and remains well above the midpoint, signalling strong momentum and continued bullish participation. Based on the current technical setup, traders may consider Buy at CMP with a strict stop loss at ₹3470 for a potential upside target of ₹4025, while adhering to disciplined risk management.

2] Mahindra Logistics: Buy at ₹370, Target ₹400, Stop Loss ₹354

Mahindra Logistics is showing improving bullish momentum after breaking above its 200-day EMA and now trading above all key EMAs, indicating a positive shift in trend. On the lower timeframe, the stock has delivered a breakout from an inverse head and shoulders pattern, signalling the potential for further short-term upside. RSI is at 59.11 and has rebounded from lower levels to move above the midpoint, reflecting strengthening momentum and renewed buying interest. Based on the current technical setup, traders may consider Buy at ₹370 with a strict stop loss at ₹354 for a potential upside target of ₹400, while maintaining disciplined risk management.