Stocks to buy under ₹100: Indian stock market indices—the Sensex and Nifty 50—closed with solid gains on Monday, May 26, driven by strong performances from key players such as ICICI Bank, ITC, and Reliance Industries.
The Sensex finished the day up by 455 points, or 0.56%, at 82,176.45, while the Nifty 50 rose 148 points, or 0.60%, to end at 25,001.15. Meanwhile, the BSE Midcap index increased by 0.56%, and the BSE Smallcap index gained 0.48%.
Investors gained approximately ₹3 lakh crore in one trading session as the total market capitalization of companies listed on the BSE increased from ₹442 lakh crore to nearly ₹445 lakh crore compared to the previous session.
Stock market today
On the outlook for the Indian stock market today, Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said, “Although the market pared most of its early gains, benchmark indices closed above their key psychological levels on steady all-round buying support due to optimism in European indices and mixed Asian cues. Investors will be focused on the minutes of the US FOMC meeting announcement and Fed Chairman’s comment on it, and the domestic Q4 GDP numbers to be announced on Friday. The monthly F&O expiry on Thursday will also determine if investors are betting on bullish bets or it is skewed towards caution for next month.”
Speaking on the outlook of the Nifty 50 today, Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Interrmediates Ltd. (A Pantomath Group Company), said, ” Nifty opened on a positive note, witnessed strong buying interest, and ultimately settled on a positive note at 25,001. The volatility index, India VIX, surged by 4.29% to 18.02, indicating a rise in market volatility.
Technically, Nifty formed a bullish candle on the daily chart, indicating strength. However, the index is still placed near the psychological resistance level of 25,000. A sustainable move above 25,000 could drive the Nifty towards 25,200–25,250 levels in the short term. On the downside, 21-Day Exponential Moving Average (21-DEMA) support is placed near 24,530. As long as the index holds above this level, a buy-on-dips strategy should be adopted.”
Meanwhile, on the Bank Nifty outlook, Yedve added, “ The Bank Nifty index opened on a positive note, witnessed buying interest, and finally settled on a positive note at 55,572. Technically, the Bank Nifty index on the daily chart formed a green candle with both-side shadow, indicating indecision. On the upside, the index is facing resistance near 56,000–56,100 levels. A sustained move above this level could trigger a fresh breakout, which will drive the index towards 57,000–57,500 levels. On the downside, 21-DEMA support is placed near 54,720. As long as the index remains above this level, it is likely to continue its bullish momentum.”
Stocks to buy today
Regarding shares to buy today, market experts — Vaishali Parekh, Vice President – Technical Research at Prabhudas Lilladher; Anshul Jain, Head of Research at Lakshmishree Investment and Securities; Sugandha Sachdeva, Founder of SS WealthStreet; Mahesh M Ojha, AVP — Research at Hensex Securities —recommended four intraday stocks for today: IFCI, Jamna Auto Industries, Suzlon Energy, Kamdhenu, HCC, and Jain Irrigation Systems.
Vaishali Parekh’s stock recommendations today
1] IFCI: Buy at ₹57, Target ₹65, Stop Loss ₹54; and
2] Jamna Auto Industries: Buy at ₹92, Target ₹96, Stop Loss ₹90.
Anshul Jain’s intraday stock for today under ₹100
3] Suzlon Energy: Buy at ₹64.10, Target ₹70, Stop Loss ₹61.
Sugandha Sachdeva’s shares to buy under ₹100
4] Kamdhenu: Buy at ₹29.90, Target ₹33, Stop Loss ₹28.60.
Mahesh M Ojha’s stock to buy
5] HCC: Buy at ₹30.60-31.25, Target ₹32.50-34-36+, Stop Loss ₹29.20.
6] Jain Irrigation Systems: Buy at ₹57-57.70, Target ₹58 50-60-62+, Stop Loss ₹55.20.
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 taking any investment decisions.
