Stocks to buy under ₹100: Following a participatory rally, the Indian stock market continued its bull run for the sixth consecutive session on Monday. The Nifty 50 index turned green in YTD after finishing 307 points higher at 23,658. The BSE Sensex gained 1,078 points and ended at 77,984, while the Bank Nifty index ended 1,111 points northward at 51,704. All the sectoral indices ended in the green. Major gainers were Nifty PSU Banks, Nifty Private Banks, Reality, and OIL/GAS.
The mid and small-cap segments continued their winning streak for the sixth session, mirroring the overall market’s strength. The Nifty Midcap 100 index rose by 1.30%, and the Nifty Small-cap 100 index surged by 1.10%. Market breadth remained positive for the fifth straight day, with the BSE advance-decline ratio at 1.53. The NSE cash market volumes were higher by 9% compared to the average of the last ten days.
Stock market today
Speaking on the outlook for the Indian stock market today, Siddhartha Khemka, Head of Research — Wealth Management at Motilal Oswal, said, “We expect this upward momentum to continue in the market on account of continued buying interest, improving FII flows, strengthening of INR against US Dollar and overall supportive global market cues.”
On the outlook of the Nifty 50 today, Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, said, “The underlying trend of the Nifty 50 index continues to be positive. The next upside targets for the Nifty are around 23,800 and 24,200 in the near term. Immediate support for Nifty today is placed at 23,400.”
Asked about the outlook of Bank Nifty today, Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta, said, “The Bank Nifty index opened with a gap-up, sustained buying interest and settled on a positive note at 51,705. Technically, Bank Nifty has surpassed the 200-day Simple Moving Average (200-DSMA) resistance and formed a bullish candle on the daily charts, indicating continued strength. The immediate support for Bank Nifty is placed near 50,970, where its 200-DSMA is located, while the next major resistance is around 52,000, which coincides with its previous swing high. A sustained move above 52,000 could trigger a fresh breakout in Bank Nifty. Traders are advised to adopt a “buy on dips” strategy to capitalize on the ongoing momentum.”
Intraday stocks for today under ₹100
Regarding stocks to buy today under ₹100, market experts — 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 four buy or sell stocks: NHPC, Canara Bank, NBCC, and Morepen Laboratories.
Mahesh M Ojha’s stocks to buy under ₹100
1] NHPC: Buy at ₹83 to ₹84, targets ₹86, ₹89, ₹91, and ₹94, stop loss ₹81;
2] Canara Bank: Buy at ₹91 to ₹91.50, targets ₹94, ₹97, ₹100, and ₹105, stop loss ₹88.
Sugandha Sachdeva’s intraday stock for today
3] NBCC: Buy at ₹84.70, target ₹89.50, stop loss ₹82.
Anshul Jain’s share to buy under ₹100
4] Morepen Laboratories: Buy at ₹51.90, target ₹56, stop loss ₹50.50 (Closing Basis).
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
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