Stocks to buy under ₹100: After sharp selling on Friday last week, the Indian stock market witnessed strong value buying on Monday. The Nifty 50 index gained 221 points at 24,585, the BSE Sensex finished 746 points higher at 80,604, while the Bank Nifty index ended 505 points northward at 55,510. Leading the charge among the Nifty’s top performers were Adani Enterprises, Tata Motors, and Eternal. Conversely, it was a tougher session for Hero MotoCorp, BEL, and Bharti Airtel, which ended as the major losers within the Nifty pack. Trading volumes in the NSE cash market were sharply lower by 19% compared to last Friday.
With the sole exception of Nifty Consumer Durables, all other sectoral indices ended the day in the green. Nifty PSU Banks, Realty, Healthcare, and Auto led the charge, recording the highest gains and signalling a widespread return of investor confidence.
Stock market today
Speaking on the outlook of the Nifty 50 index, Nandish Shah, Deputy Vice President at HDFC Securities, said, “Short-term trend has turned positive as the Nifty 50 index has closed above its 5-day DEMA (24,553) for the first time in 13 sessions. For the past three consecutive sessions, the Nifty has found support around the 24340 level, establishing it as a strong short-term base. On the upside, the 20-day DEMA at 24793 and the 50-day DEMA at 24841 are expected to act as short-term resistance levels.”
On the outlook of the Bank Nifty today, Shiju Kuthupalakkal, Senior Manager of Technical Research at Prabhudas Lilladher, said, “The Bank Nifty index, witnessing a recovery, moved with support of the 100-DEMA level of 54,950 to improve the bias. The index would have the tough resistance zone near the 56,000 level, while on the downside, the 54,900 zone shall be positioned as the crucial support level that needs to be sustained.”
Stocks to buy today under ₹100
Regarding stocks to buy today, market experts — Sugandha Sachdeva, Founder of SS WealthStreet and Anshul Jain, Head of Research at Lakshmishree Investment, recommended these three intraday stocks for today under ₹100: Munjal Auto Industries, Bajaj Hindusthan Sugar, and Network 18.
Sugandha Sachdeva’s intraday stocks for today
1] Munjal Auto Industries: Buy at ₹73, Targets ₹76.50, ₹77.50, Stop Loss ₹70.50; and
2] Bajaj Hindusthan Sugar: Buy at ₹23, Targets ₹25.10, ₹26.10, Stop Loss ₹21.50.
Anshul Jain’s intraday stock for today under ₹100
3] Network 18: Buy at ₹56.50, Target ₹60, Stop Loss ₹54.
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.
