Stocks to buy under ₹100: The Indian stock market ended lower for the sixth straight session, and the Nifty 50 index clocked its longest losing streak since March 2020. This sustained downturn over six weeks has resulted in a cumulative loss of 4.97% for the Nifty 50 index. On the week’s final session, the selling pressure was acute, as the Nifty fell 232 points (0.95%) to close at 24,363, marking its lowest level in the last three months.
In an overall weak market today, a few names showed relative resilience. NTPC, Titan, and Dr. Reddy’s Laboratories led the charge among the Nifty’s top performers. Conversely, it was a particularly tough session for IndusInd Bank, Bharti Airtel, and Adani Enterprises, which ended as the major losers within the Nifty pack. Trading volumes in the NSE cash market were slightly higher by 2% compared to yesterday.
Stock market today
Speaking on the outlook of the Nifty 50 index, Nandish Shah, Deputy Vice President, HDFC Securities, said, “The Nifty 50 index is currently heading towards its next significant support zone of 24,150 to 24,200, where multiple technical signals, including the 200-day DEMA, a price gap, and Fibonacci retracements, all coincide. On the upside, the 24,500-24,600 band is expected to offer resistance.”
On the outlook of the Bank Nifty today, Shiju Kuthupalakkal, Senior Manager of Technical Research at Prabhudas Lilladher, said, “The Bank Nifty index plunged from the 55,600 zone in the morning session and continued with the slide as the day progressed to end on a weak note with a bearish engulfing pattern on the daily chart signalling weak sentiment and can anticipate further slide. The 100-period MA positioned at the 54,800 level is at risk, and a decisive breach below shall trigger a fresh downward slide with the 53,500 zone as the major support of the previous low made.”
Stocks to buy today
Regarding stocks to buy today, market experts — Mehul Kothari, Deputy Vice President of Technical Research at Anand Rathi; Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher; Anshul Jain, Head of Research at Lakshmishree Investment; and Sugandha Sachdeva, Founder of SS WealthStreet, recommended these six intraday stocks for today: TTML, Delta Corp, Bank of Maharashtra, Filatex India, Geojit Financial Services, and Sumit Woods.
Mehul Kothari’s intraday stocks for today
1] TTML: Buy at ₹57, Target ₹60, Stop Loss ₹55.50; and
2] Delta Corp: Buy at ₹82, Target ₹86, Stop Loss ₹80.
Vaishali Parekh’s stock recommendations today
3] Bank of Maharashtra: Buy at ₹55.65, Target ₹59, Stop Loss ₹54.
Anshul Jain’s stocks to buy under ₹100
4] Filatex India: Buy at ₹52, Target ₹57, Stop Loss ₹50; and
5] Geojit Financial Services: Buy at ₹72, Target ₹76, Stop Loss ₹70.
Sugandha Sachdeva’s share to buy under ₹100
6] Sumit Woods: Buy at ₹95.70, Targets ₹100.70, ₹103.50, Stop Loss ₹91.50.
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.
