Stocks to buy under ₹100: After extending its Monday rally in the first hour, the Indian stock market came under selling pressure and ended lower on Tuesday.
The Nifty 50 index finished 97 points lower at 24,487, the BSE Sensex ended 368 points lower at 80,235, while the Bank Nifty index corrected 467 points and closed at 55,043.
Tech Mahindra, Maruti, and Hero MotoCorp led the charge among the Nifty’s top performers. Conversely, it was a tough session for heavyweights like Bajaj Finance, Trent, and Hindustan Unilever, which ended as the major losers within the Nifty pack. Trading volumes in the NSE cash market were slightly lower today, down 3% compared to yesterday.
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 in consolidation mode, supported by domestic buying interest, while tracking global cues from US tariff developments and the outcome of the US-Russia talks later this week.”
Speaking on the outlook of the Nifty 50 index, Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, said, “The short-term uptrend that resumed after a sharp upside move on Monday remains intact, and we expect buying to emerge from near the supports of 24,300-24,400 levels in the coming sessions. Hence, one may expect Nifty to retest the crucial hurdle of around 24,700 in the short term.”
Asked about the outlook of the Bank Nifty today, Shiju Kuthupalakkal, Senior Manager of Technical Research at Prabhudas Lilladher, said, “The Bank Nifty index continues to hover between the tight, narrow range of 55,000 and 55,700 zone with bias maintained with a cautious approach and would need a decisive breach above the 50-DEMA at 56,000 level to bring some hope for further upside movement in the coming sessions. With the index precariously placed at the current juncture, a decisive breach below the 54,400 zone shall trigger intensified selling pressure overall weakening the trend, with the next major support positioned near the important 200-period SMA at the 52,700 zone.”
Stocks to buy today
Regarding stocks to buy today, market experts Shiju Kuthupalakkal, Senior Manager of Technical Research at Prabhudas Lilladher; Anshul Jain, Head of Research at Lakshmishree Investment; and Sugandha Sachdeva, Founder of SS WealthStreet, recommended four intraday stocks for today under ₹100: Lloyds Engineering, Shriram Properties, Tamilnadu Petroproducts, and Spicejet.
Shiju Kuthupalakkal’s intraday stocks for today
1] Lloyds Engineering: Buy at ₹67.95, Target ₹73, Stop Loss ₹66.
Anshul Jain’s stocks to buy under ₹100
2] Shriram Properties: Buy at ₹92.50, Target ₹97, Stop Loss ₹90; and
3] Tamilnadu Petroproducts: Buy at ₹99.50, Target ₹110, Stop Loss ₹96.
Sugandha Sachdeva’s share to buy under ₹100
4] Spicejet: Buy at ₹33.50, Targets ₹37.50, ₹38.70, Stop Loss ₹31.30.