Stocks to buy under ₹100: The Indian stock market extended its bull trend for another session and ended higher for the sixth straight day. The Nifty 50 index added 33 points and closed at 25,083, the BSE Sensex finished 142 points higher at 82,000, and the Bank Nifty index ended 56 points north at 55,755. Nifty IT, FMCG, and Realty emerged as major gainers among the sectoral indices. Conversely, sectors such as Nifty Media, Pharma, and Financial Services were the major losers for the day.
IT heavyweights Infosys, TCS, and Nestle led the charge among the Nifty’s top performers. On the other hand, it proved to be a tough session for names like Bharat Electronics (BEL), Shriram Finance, and Bajaj Finance, which ended as the major losers within the Nifty pack. Trading volumes in the NSE cash market were higher by 10% compared to the previous session.
Stock market today
Unveiling the intraday trading strategy for the Indian stock market today, Shrikant Chouhan, Head Equity Research at Kotak Securities, said, “We are of the view that the larger market trend is upward, but for day traders, buying on intraday corrections and selling on rallies would be the ideal strategy.”
Speaking on the outlook of the Nifty 50 and BSE Sensex for today, Shrikant Chouhan of Kotak Securities, said, “On the downside, 25,000/81,700 and 24,950/81,500 would act as key support zones, while 25,150/82,300 and 25,250/82,500 could be crucial resistance levels for the bulls. However, below 24,950/81500, the sentiment could change. If the index falls below this level, traders may prefer to exit long positions.”
On the outlook of the Bank Nifty today, Bajaj Broking Research said, “We expect the index to extend consolidation in the range of 54,800-56,300. Only a movement beyond this range will signal the next directional move. Key support area 54,800 and 55,000 — a region that aligns with the 100-day exponential moving average (EMA) and key Fibonacci retracement levels from the prior upward move. A breach below 54,800 will open downside towards the 54,000 levels. On the higher side, resistance around the 56,000–56,300 range, corresponding to the recent breakdown area and the 50% retracement of the entire decline (57,628-54,905).”
Intraday stocks for today under ₹100
Regarding stocks to buy today, market experts Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, and Anshul Jain, Head of Research at Lakshmishree Investment, recommended these three intraday stocks under ₹100: Centrum Capital, DCW, and Geojit Financial Services.
Vaishali Parekh’s stock to buy under ₹100
1] Centrum Capital: Buy at ₹38, Target ₹42, Stop Loss ₹36.
Anshul Jain’s shares to buy under ₹100
2] DCW: Buy at ₹79.50, Target ₹85, Stop Loss ₹76; and
3] Geojit Financial Services: Buy at ₹74.70, Target ₹79, Stop Loss ₹73.
Jerome Powell’s Jackson Hole speech in focus
Central bankers and economists worldwide are gathering for the Fed’s economic symposium in Jackson Hole, Wyoming. The prestigious event in the Grand Teton mountains has been used to make key policy announcements. Powell is due to speak today at 10:00 AM in New York time.
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.
