Stocks to buy under ₹100: The Indian stock market experienced fresh selling pressure, with significant declines in auto and pharma stocks pulling down the key indices for the fourth straight session, on Friday, February 21. Over the week, both indices closed in negative territory, recording their second consecutive weekly loss.
The Nifty 50 ended the session down 0.51 per cent, finishing the week with a 0.58 per cent decline at 22,795. Meanwhile, the Sensex slipped 0.56 per cent today and recorded a 0.86 per cent weekly drop, closing at 75,311.
The Nifty Midcap 100 index declined by 1.32 per cent to settle at 50,486, while the Nifty Smallcap 100 index slipped 0.70 per cent to close at 15,636. Despite the session’s losses, both midcap and smallcap indices ended the week on a positive note.
Sumeet Bagadia’s stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that the Indian stock market bias has once again turned cautious as the Nifty 50 index has ended below 22,800.
Speaking on the outlook of Indian stock market, Bagadia said, “The first one hour of Monday session is crucial as breaking below 22,750 may intensify selling on Dalal Street. Investors are advised to maintain stock-specific approach and look at those stocks that are looking strong on the technical chart.”
Regarding stocks to buy under ₹100, Sumeet Bagadia recommended buying these three shares: SBFC Finance, NMDC Steel, and Mangalam Global Enterprise.
Stocks to buy under ₹100
1] SBFC Finance: Momentum buy at ₹87.05, Stop Loss of ₹84; Target Price of ₹93.1.
2] NMDC Steel: Momentum buy at ₹38.92, Stop Loss of ₹37.55; Target Price of ₹41.6.
3] Mangalam Global Enterprise: Momentum buy at ₹27.38, Stop Loss of ₹22; Target Price of ₹30.36.
Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.
