Breakout stocks to buy or sell: Sumeet Bagadia recommends five shares to buy

“Derivatives data also points towards a cautious near-term setup, with PCR at 0.81 and India VIX at 11.3875, indicating a marginal rise in volatility. While Put writing around 24,200–24,150 offers some support, call writing remains concentrated around 24,200–24,300, keeping this zone as an immediate hurdle. Hence, 24,000–24,150 remains the crucial downside zone, and holding this area will be important to prevent further weakness. On the upside, 24,270–24,350 is the key resistance band, and a sustained move above this zone could provide some improvement in the short-term structure,” Bagadia said.