Stocks to buy under ₹100: The Indian stock market displayed a late-session optimism, breaking out of a narrow range that had held it for most of the Tuesday session. The Nifty 50 index finished 61 points higher at 25,522, the BSE Sensex ended 270 points higher at 83,712, the Bank Nifty index gained 307 points and closed at 57,256. Leading the charge among the top performers on the Nifty were Kotak Bank, ETERNAL, and Asian Paints. Conversely, Titan, Dr Reddy and Bajaj Auto concluded the session as major losers. After a sharp drop in volumes during the last few days, volumes on the NSE cash market rose 18% compared to the previous session.
After falling sharply in the first half, the Nifty Midcap and Smallcap Indices recovered impressively during the second half of the day, ultimately ending the session with only minor losses. The Nifty Midcap 100 Index fell by 0.17%, while the Nifty Smallcap 100 Index dipped by 0.29%. Market breadth, though ended negative, showed signs of improvement, with declining stocks only slightly outpacing advancing ones, as indicated by a BSE advance-decline ratio of 0.96. Amongst the sectoral indices, Nifty Realty, Financial Services, and Private Banks were the major gainers, demonstrating strong buying interest. Conversely, Nifty Consumer Durables, Pharma, and Healthcare were the major losers, seeing some profit booking.
Stock market today
Speaking on the outlook of the Nifty 50 index, Shiju Kuthupalakkal, Senior Manager of Technical Research at Prabhudas Lilladher, said, “The Nifty 50 index has indicated a steady and gradual improvement on the daily chart in the last three sessions to turn the daily trend positive and further rise can be anticipated in the coming sessions with the overall trend maintained positive. As mentioned earlier, the index has the important support positioned near the 25,250-25,300 zone, which needs to be sustained as of now and on the upside, a decisive breach above the 25,650 zone shall trigger a fresh upward move with higher targets of 25,700 and 26,200 levels in the coming days.”
“The Bank Nifty index, sustaining the important near-term support of 56,650 zone in the last two sessions, has indicated a positive bullish candle formation to improve the bias and can be expected to see further gains in the coming sessions. As mentioned earlier, the index continues to have the 56,000 zone as the crucial support, which needs to be sustained as of now. Once a decisive breach above the resistance level of 57,600 is breached, one can expect fresh targets of 58,500 and 60,000 levels in the coming days,” said Shiju Kuthupalakkal of Prabhudas Lilladher.
Stocks to buy today under ₹100
Regarding stocks to buy today, market experts — Sumeet Bagadia, Executive Director at Choice Broking; Sugandha Sachdeva, Founder of SS WealthStreet; and Anshul Jain, Head of Research at Lakshmishree Investment — recommended these four intraday stocks for today under ₹100: Alok Industries, Parsvnath Developers, NHPC, and Restaurant Brands Asia (RBA).
Sumeet Bagadia’s stocks to buy under ₹100
1] Parsvnath Developers: Buy at ₹26.47, Target ₹28.50, Stop Loss ₹25.50;
2] Alok Industries: Buy at ₹22.13, Target ₹23.80, Stop Loss ₹21.30.
Sugandha Sachdeva’s intraday stock for today
3] NHPC: Buy at ₹87.20 to ₹87.30, Targets ₹90.50, ₹92.30, Stop Loss ₹85.
Anshul Jain’s shares to buy under ₹100
4] RBA: Buy at ₹81.50, Target ₹84.50, Stop Loss ₹80.
Disclaimer: The views and recommendations above are those of individual analysts or brokerage companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
