Stock Market Guide: Top Intraday & Breakout Picks for February 10, 2025

The Indian stock market remained range-bound despite the RBI’s 25 bps rate cut, with Nifty closing at 23,559.95 and Sensex at 77,860.19. Experts suggest a “buy-on-dip” strategy until a breakout above 23,800 or below 23,300 determines the next trend. Key stock recommendations for February 10, 2025, include JM Financial, Kotak Bank, JSW Steel, Supriya Lifescience, and Bharti Hexacom, among others.

CONTENTS:

• Stocks to Buy Today: Intraday Trading Calls by Sumeet Bagadia – February 10, 2025
• Breakout Stocks to Buy or Sell: Sumeet Bagadia Recommends Five Shares for February 10, 2025
• Market Trading Guide: Kotak Bank, JSW Steel Among Five Stock Picks for Monday

Stock Market Guide: Top Intraday & Breakout Picks for February 10, 2025

Stocks to Buy Today: Intraday Trading Calls by Sumeet Bagadia – February 10, 2025

Stock Market Guide: Top Intraday & Breakout Picks: The previous trading session saw Nifty closing at 23,559.95, registering a 0.18% decline, yet maintaining a 0.33% gain for the week. Meanwhile, Nifty Bank ended the day at 50,158.85, slipping 0.44%, though it posted a weekly rise of 1.32%. The market experienced stability as India VIX declined 3.46% to 13.69, indicating reduced volatility.

Nifty Market Outlook: Stock Market Guide: Top Intraday & Breakout Picks

According to Dhupesh Dhameja, Derivatives Analyst at SAMCO Securities, Nifty remains within a consolidation phase, trading in a well-defined range between the 50-day EMA resistance and 20-day EMA support. Persistent selling pressure at higher levels has weakened the bullish sentiment, keeping the market in a sideways trajectory.

• Key resistance: 23,800-23,850 zone, reinforced by fresh call writing and a descending trendline.
• Key support: 23,400-23,350, actively defended by put writers.

As long as Nifty remains range-bound, traders may prefer a “Range Trading” strategy until a decisive breakout determines the next trend.

Bank Nifty Market Outlook: Stock Market Guide: Top Intraday & Breakout Picks

The Nifty Bank index is also in a tight consolidation phase, staying above the breakout level of a Double Bottom pattern. However, selling at higher levels has limited bullish momentum.

• Key resistance: 50,500-50,600, where call writing has intensified.
• Key support: 50,000-49,700, held by aggressive put writers.

Until the index breaks out of this congestion zone, range-bound trading is expected to dominate.

Intraday Stock Recommendations – February 10, 2025

Sumeet Bagadia, Executive Director at Choice Broking, has identified two stocks for intraday trading based on recent technical signals.

1. Supriya Lifescience (SUPRIYA)

• Buy Price: ₹773.6
• Stop-Loss: ₹750
• Target Price: ₹830

SUPRIYA has shown strong bullish momentum, bouncing from its 720 support level near the 20-day EMA. The stock is trading above its 20-day, 50-day, and 200-day EMAs, signaling a strong uptrend.

• Key Indicators:
  • Relative Strength Index (RSI): Positive momentum
  • Volume surge: Indicates strong buying interest

If the momentum continues, SUPRIYA could move toward its target of ₹830.

2. Wonder Electricals (WEL)

• Buy Price: ₹198.18
• Stop-Loss: ₹190
• Target Price: ₹210

WEL has reached an all-time high of ₹198.99, breaking out with higher highs and higher lows, supported by strong trading volumes. The stock is trading above its 20-day, 50-day, and 200-day EMAs, reinforcing its bullish trend.

• Key Indicators:
  • RSI Level: 71.95 (strong momentum)
  • Support Level: ₹190 (important for maintaining the trend)

A continuation of the current trend could see WEL hitting ₹210 in the near term.

Breakout Stocks to Buy or Sell: Sumeet Bagadia Recommends Five Shares for February 10, 2025

The Indian stock market wrapped up another week of volatility but managed to close with modest gains, influenced by both global and domestic factors. Key market drivers included the 2025 Budget announcements, the Reserve Bank of India’s first monetary policy decision of the year, the Delhi elections, and recent US trade tariff policies.

For the second consecutive week, domestic equity indices recorded gains:

• Nifty 50 climbed 0.33%, closing at 23,559.95
• BSE Sensex rose 0.46%, ending at 77,860

Market Outlook & Strategy: Stock Market Guide: Top Intraday & Breakout Picks

According to Sumeet Bagadia, Executive Director at Choice Broking, the market remains range-bound, with Nifty 50 fluctuating between 23,300 and 23,800.

He stated, “The Indian stock market is currently trading within a broad range. A breakout beyond either 23,300 or 23,800 will determine the next directional move. Until then, traders should adopt a ‘buy-on-dip’ approach. Investors looking for stock-specific opportunities should focus on technically strong breakout stocks, which can be ideal for intraday trading.”

Breakout Stock Recommendations for Today

For intraday trading on February 10, 2025, Bagadia has identified five breakout stocks with strong technical setups:

1. Bharti Hexacom
   • Buy at: ₹1465.8
   • Target: ₹1570
   • Stop-loss: ₹1415
2. Welspun Corp
   • Buy at: ₹801.75
   • Target: ₹850
   • Stop-loss: ₹770
3. KRBL
   • Buy at: ₹301.3
   • Target: ₹320
   • Stop-loss: ₹290
4. Sarda Energy & Minerals
   • Buy at: ₹466.25
   • Target: ₹500
   • Stop-loss: ₹450
5. Cantabil Retail India
   • Buy at: ₹329.85
   • Target: ₹350
   • Stop-loss: ₹320

Market Trading Guide: Kotak Bank, JSW Steel Among Five Stock Picks for Monday

The Reserve Bank of India (RBI) announced a 25 basis points rate cut on Friday—its first in nearly five years—aimed at stimulating economic growth. However, this did not provide an immediate boost to the domestic stock markets, as key indices ended in the red, weighed down by declines in banking and financial services stocks.

• The BSE Sensex declined by 197.97 points (0.25%), closing at 77,860.19.
• The Nifty 50 slipped 43.40 points (0.18%), settling at 23,559.95.

Market Outlook: Stock Market Guide: Top Intraday & Breakout Picks

Rupak De, Senior Technical Analyst at LKP Securities, observed that despite market volatility following the RBI’s policy announcement, the Nifty managed to stay above its 21-day exponential moving average (EMA) on the daily chart, signaling a short-term positive trend.

“The index will likely maintain an upward trajectory as long as it remains above 23,450. On the upside, 23,700 serves as resistance, and a decisive breakout above this level could propel the Nifty toward 24,050,” he explained.

Top 5 Stock Recommendations for Monday

1. JM Financial

• Buy at: ₹117.35
• Target: ₹130
• Stop-loss: ₹111

The stock surged 6.3% on the daily chart, breaking out of a falling trendline with strong buying volumes. The RSI has crossed above 52, indicating positive momentum. These factors suggest a potential continuation of gains.

2. Chambal Fertilizers

• Buy at: ₹555.75
• Target: ₹600
• Stop-loss: ₹535

After a seven-month correction, Chambal Fertilizers has formed a bullish candlestick, breaking past ₹550 resistance. The stock has also closed above its 20-day and 50-day EMAs, reinforcing the strength of its upward trend.

3. Kotak Mahindra Bank

• Buy at: ₹1,929
• Target: ₹2,050
• Stop-loss: ₹1,869

Kotak Bank has broken out of a falling trendline on the daily chart, signaling increased optimism. The stock is trading above the 21 EMA, with an RSI bullish crossover. As long as it stays above ₹1,869, it has the potential to rally toward ₹2,050.

4. Godfrey Phillips

• Buy at: ₹5,470
• Target: ₹6,000
• Stop-loss: ₹5,239

The stock has broken out of consolidation on the daily chart and remains above both its 21 EMA and 50 EMA, confirming a bullish trend. The RSI is also trending upward, indicating further upside potential.

5. JSW Steel

• Buy at: ₹980
• Target: ₹1,020
• Stop-loss: ₹959

JSW Steel has also broken out of consolidation, maintaining strength above its short-term moving averages. With an RSI bullish crossover, the stock could move toward ₹1,020, provided it stays above ₹959.