Stocks to buy under ₹100: After a strong start, the Indian stock market indices extended their early morning gains but soon came under sell-off pressure at higher levels in the second half of Wednesday. However, the key benchmark indices managed to end higher despite losing most of their morning gains. The Nifty 50 index finished 129 points higher at 24,813. The BSE Sensex gained 410 points and closed at 81,596. The Bank Nifty index added 197 points and regained the 55,000 peak.
All the sectors ended the day in green, with realty and pharma top performers. The broader market had a mixed performance, as Midcaps slightly outperformed, whereas Smallcaps underperformed the key benchmark indices.
Stock market today
On the Indian stock market’s outlook today, Siddhartha Khemka, Head of Research—Wealth Management at Motilal Oswal, said, “We expect markets to remain firm, supported by healthy domestic macros, decent corporate earnings, and prospects of an above-normal monsoon this year. Institutional buying in broader markets should provide further support.”
Speaking on the outlook of the Nifty 50 today, Shiju Kuthupalakkal, Senior Manager of Technical Research at Prabhudas Lilladher, said, “The Nifty 50 index with the overall trend maintained positive witnessed a recovery amid the volatile session from near the 24700 zone to end on a positive note near the 24800 level with anticipation of retesting the 25000 zone in the coming session. The overall bias is maintained strong with the index indicating an ascending channel pattern on the daily chart with crucial support positioned near 24500, while on the upper side, a decisive breach above the 25000 zone shall trigger a fresh upward move in the coming days.”
“The Bank Nifty index continues to move within the tight range of 55700 and 54500 zones, close to the 55000 level, with the overall trend maintained positive. As mentioned earlier, we maintain our stance of the crucial support positioned near the 54000 level, which needs to be sustained. At the same time, a decisive breach above the 55800 zone shall trigger a breakout, and thereafter, we expect a fresh rise in the coming days,” 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; Sugandha Sachdeva, Founder of SS WealthStreet; and Anshul Jain, Head of Research at Lakshmishree Investment and Securities — recommended these six intraday stocks for today: Morepen Laboratories, IOL Chemicals and Pharmaceuticals, Vascon Engineers, IDBI Bank, Trident, and Spencer’s Retail.
Sumeet Bagadia’s stocks to buy under ₹100
1] Morepen Laboratories: Buy at ₹65.94, Target ₹70.55, Stop Loss ₹63.63; and
2] IOL Chemicals and Pharmaceuticals: Buy at ₹86.27, Target ₹92.30, Stop Loss ₹83.25.
Mahesh M Ojha’s shares to buy under ₹100
3] Vascon Engineers: Buy at ₹48 to ₹49.25, Targets ₹51, ₹53, ₹55, Stop Loss ₹46.40; and
4] IDBI Bank: Buy at ₹93 to ₹94.50, Targets ₹96, ₹98, ₹100, ₹103, Stop Loss ₹90.80.
Sugandha Sachdeva’s intraday stock for today
5] Trident: Buy on dips at ₹31.20, Target ₹35.50, Stop Loss ₹28.90.
Anshul Jain’s stock of the day
6] Spencer’s Retail: Buy at ₹66, Target ₹70, Stop Loss ₹63.
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.
