Stocks to buy under ₹100: After a lacklustre trading session, the Indian stock market ended lower on Wednesday. The Nifty 50 index ended 73 points lower at 24,752. The BSE Sensex finished 239 points downside at 81,312, while the Bank Nifty index added 64 points and closed at 55,417. The India VIX Index finished 2.79 per cent lower at around 18.01. A mixed trend was seen among the sectors, where Media and PSU Bank were the top performers, whereas FMCG and Auto lagged. Divergence was seen in the Broader market’s performance, where Midcaps ended in red while Smallcaps outperformed the Frontline Index by ending the day in green.
Stock market today
On the Indian stock market’s outlook today, Siddhartha Khemka, Head of Research—Wealth Management at Motilal Oswal, said, “We expect the market to remain in a consolidation phase with selective buying as investors weigh upcoming data and global developments.”
Speaking on the outlook of the Nifty 50 today, Shiju Kuthupalakkal, Senior Manager of Technical Research at Prabhudas Lilladher, said, “The Nifty 50 index remained range-bound throughout the session, and with some profit booking witnessed closed near the 24,750 level, with the index overall consolidating within a narrow band for quite some time. With the sentiment maintained with a cautiously positive approach, the index would need to breach above the 25,000 zone decisively, having the near-term support near the important 20-period MA at the 24,650 level, which, if sustained, can regain the positive move for further rise in the coming days. The support for the day is seen at 24,500 levels, while the resistance is seen at 25,000 levels.”
“The Bank Nifty index has sustained the crucial support zone of 55,000 levels once again and has closed near the 55,400 level, keeping the bias intact, and with most of the PSU banking stocks looking well set for further rise, we expect the index to gain strength in the coming days. As mentioned earlier, the index would need a decisive breach above the zone of 56,000 levels to improve the bias and trigger a further rise in the coming days. The Bank Nifty index would have a daily range of 55,000 to 56,000 levels,” Shiju Kuthupalakkal said.
Stocks to buy today
Regarding stocks to buy today, market experts — Sumeet Bagadia, Executive Director at Choice Broking; Mahesh M Ojha, AVP — Research at Hensex Securities; and Sugandha Sachdeva, Founder of SS WealthStreet — recommended six intraday stocks for today under ₹100: IFCI, Tamilnadu Petroproducts, Imagicaaworld, Suzlon Energy, and Alok Industries.
Sumeet Bagadia’s stocks to buy under ₹100
1] IFCI: Buy at ₹70.31, Target ₹75.50, Stop Loss ₹67.30; and
2] Tamilnadu Petroproducts: Buy at ₹87.23, Target ₹94, Stop Loss ₹84.
Mahesh M Ojha’s shares to buy under ₹100
3] Imagicaaworld: Buy at ₹65 to ₹66.25, Targets ₹67.75, ₹69, ₹75, ₹75, Stop Loss ₹63.80;
4] Suzlon Energy: Buy at ₹65.50 to ₹66.50, Targets ₹68, ₹72, ₹75, Stop Loss ₹63.70.
Sugandha Sachdeva’s intraday stock for today
5] Alok Industries: Buy at ₹19.60, Target ₹22, Stop Loss ₹18.60.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
