Stocks to buy under ₹100: The key benchmark indices of the Indian stock market closed in the green zone after Tuesday’s stock market session.
With the mid-cap and small-cap segments outperforming, the benchmark indices snapped their three-day losing streak. The Nifty 50 index closed 0.57% higher at 24,821.10 points, compared to 24,680.90 points at the previous market close.
The BSE Sensex index closed 0.55% higher at 81,337.95 points, compared to 80,891.02 points at the previous stock market session.
Stock market today
Speaking on the outlook of the Nifty 50 today, analysts at Bajaj Broking said, the “index formed a bullish engulfing candle in the daily chart, signalling buying demand around the 100-day EMA after three sessions of sharp decline.”
“Going ahead, the index is likely to enter a consolidation phase in the range of 24,500-25,000 in the coming sessions. While a move above 25,000 will open further upside towards the last two weeks’ highs, placed at 25,250,” said the brokerage firm.
“Key support is at 24,500-24,400 region, being the confluence of the previous swing low, the 100-day EMA, and the 61.8% Fibonacci retracement level of the recent rally from 23,935 to 25,669 – making it a crucial demand zone that could attract buying interest or pause the ongoing correction,” said the analysts at Bajaj Broking.
Stocks to buy today under ₹100
Regarding stocks to buy today, market experts Vaishali Parekh, the Vice President of Technical Research at Prabhudas Lilladher and Anshul Jain, Head of Research at Lakshmishree Investment, recommended these four intraday stocks to buy on Wednesday: HFCL Ltd, Lloyds Engineering Works Ltd, DCW Ltd, and Geojit Financial Services Ltd.
Vaishali Parekh’s stock recommendations today
1. HFCL Ltd (HFCL): Buy at 78; Target Price at ₹82; Stop Loss at ₹76.
2. Lloyds Engineering Works Ltd (LLOYDSENGG): Buy at ₹73.20; Target Price at ₹79; Stop Loss at ₹71.
Anshul Jain’s share to buy under ₹100
3. DCW Ltd (DCW): Buy at ₹79.50; Target Price at ₹85; Stop Loss at 75.
4. Geojit Financial Services Ltd (GEOJITFSL): Buy at ₹74; Target Price at ₹82; Stop Loss at ₹70.