Stocks to buy under ₹100: The benchmark index Nifty 50 crashed almost one per cent to breach its key support at 24,400, closing at 24,363 last Friday.
During the week ended August 8, the index remained in a range of 24,337 to 24,736, pressured by US President Donald Trump’s tariff blow, foreign capital outflow, and mixed earnings.
The index declined 0.82 per cent for the week, marking its sixth consecutive week of losses.
The coming week will be dominated by Trump tariff news flows, India, US inflation data and foreign capital flow. The proposed meeting of the US President and his Russian counterpart, Vladimir Putin, will also be a key event for markets globally.
Sumeet Bagadia’s stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, underscored that the market sentiment has turned weak as the index has declined below the 24,500 mark.
As the domestic market lacks fresh positive triggers, it looks difficult that the index will breach the resistance at 24,550.
“The Indian stock market sentiment has turned weak as the Nifty 50 index has slipped below 24,500 decisively and the 50-stock index has now made its base around its 200-DEMA support at 24,000. On the upper side, 24,550 is expected to work as an immediate hurdle,” said Bagadia.
Stocks to buy under ₹100
Regarding stocks to buy under ₹100, Sumeet Bagadia recommended buying these three shares: Jay Bharat Maruti, Visaka Industries, and Jayaswal Neco Industries.
Jay Bharat Maruti | Buy in cash at ₹90.44 | Target price: ₹98 | Stop loss: ₹87.
Visaka Industries | Buy in cash at ₹90.64 | Target price: ₹97 | Stop loss: ₹87.5.
Jayaswal Neco Industries | Buy in cash at ₹53.39 | Target price: ₹58 | Stop loss: ₹51.5.
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Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of the expert, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
