Stocks to buy under ₹100: The downside momentum continued in the Indian stock market for the fourth consecutive session on Monday. The Nifty 50 index went off 67 points and closed at 25,082, the BSE Sensex ended 247 points lower at 82,253, while the Bank Nifty index finished marginally higher at 56,765. Meanwhile, the broader markets witnessed buying interest with Nifty Midcap100 and Smallcap100 indices rising by 0.7% and 1.0% each. Amongst sectors, Nifty Pharma gained 0.8% amid expectations of a favourable outcome in the US-India trade deal. On the other hand, Nifty IT lost 1.1% as TCS’s weak Q1 earnings and cautious guidance sparked a broad sectoral sell-off.
Stock market today
Speaking on the outlook of the Indian stock market, Siddhartha Khemka, Head of Research — Wealth Management at Motilal Oswal, said, “We expect the market to remain in a consolidation phase, awaiting updates on the India-US trade deal; while stock-specific action could be seen on the back of quarterly earnings announcements.”
On the outlook of the Nifty 50 index, Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, said, “The short-term trend of Nifty continues to be weak, and there is a possibility of some more consolidation with range-bound action in the coming session. Crucial lower supports should be watched around 25000-24900, and there is a probability of an upside bounce from the lower supports. Immediate resistance should be watched at 25200.”
“The Bank Nifty index has been moving within a narrow range and has consolidated near the 56,800 zone with a positive bias, anticipating further positive developments. As mentioned earlier, the index would have the important and crucial support positioned near the 56,000 level which needs to be sustained as of now and at the same time, on the upside, it would need to breach above the resistance zone of 57,600 level and thereafter, expect for fresh higher targets of 58,500 and 60,000 levels in the coming days,” said Shiju Kuthupalakkal, Senior Manager of Technical Research at Prabhudas Lilladher.
Stocks to buy today under ₹100
Regarding stocks to buy today, market experts — Anshul Jain, Head of Research at Lakshmishree Investment; Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher; and Sugandha Sachdeva, Founder of SS WealthStreet, recommended these three ₹100″>intraday stocks for today under ₹100: Allcargo Terminals, South Indian Bank, Allcargo Logistics, and Lloyds Enterprises.
Anshul Jain’s intraday stocks for today
1] South Indian Bank: Buy at ₹30, Target ₹32, Stop Loss ₹29; and
2] Lloyds Enterprises: Buy at ₹88.80, Target ₹91.30, Stop Loss ₹87.80.
Vaishali Parekh’s stock to buy under ₹100
3] Allcargo Terminals: Buy at ₹29.90, Target ₹33, Stop Loss ₹29.
Sugandha Sachdeva’s share to buy under ₹100
4] Allcargo Logistics: Buy at ₹33.30, Targets ₹35.50, ₹36.30, Stop Loss ₹32.40.
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.
