Top Stock Picks for Investors: Sumeet Bagadia's Recommendations for May 6, 2026
Breakout stocks to buy or sell: Sumeet Bagadia recommends five shares to buy today β 6 May 2026
Mint
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On May 5, 2026, Indian indices Sensex and Nifty 50 closed lower amid profit booking. Sumeet Bagadia from Choice Broking recommends five stocks to buy, including Manorama Industries and Aditya Birla Capital, highlighting their bullish momentum and potential upside targets.
- 01Sensex fell by 252 points, closing at 77,017.79.
- 02Nifty 50 declined by 87 points, settling at 24,032.80.
- 03Sumeet Bagadia recommends five stocks to buy, including Manorama Industries and Aditya Birla Capital.
- 04Immediate support levels for Nifty 50 are between 23,850 and 23,900.
- 05Investors are advised to wait for clear breakout signals before making new positions.
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On May 5, 2026, the Indian stock market saw a decline, with the 30-share Sensex dropping 252 points (0.33%) to close at 77,017.79 and the Nifty 50 falling 87 points (0.36%) to 24,032.80. This decline was primarily due to profit booking in banking and financial stocks. Sumeet Bagadia, Executive Director at Choice Broking, noted a hammer-like candlestick pattern in the Nifty 50, indicating potential buying interest at lower levels and suggesting immediate support between 23,850 and 23,900. He also highlighted the importance of waiting for a decisive breakout above resistance levels before initiating new positions.
Bagadia recommends five stocks for investors to consider buying on May 6, including Manorama Industries, Aditya Birla Capital, Apollo Micro Systems, Syrma SGS Technology, and Gravita India Limited. Each stock shows strong bullish momentum and has specific buy targets and stop-loss levels. For instance, Manorama Industries is recommended to buy at βΉ1,594 with a target of βΉ1,715 and a stop-loss at βΉ1,515. Overall, the market's cautious sentiment continues, and investors are advised to proceed with caution.
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Investors in the Indian stock market may experience fluctuations in their portfolios due to the recent declines in major indices and the cautious sentiment in the market.
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