Intraday stocks for today under ₹100: The Indian stock market witnessed a subdued trade session on Tuesday before Christmas. The Nifty 50 index went off 25 points and closed at the 23,727 mark, the BSE Sensex went down 67 points and finished at 78,472, while the Bank Nifty index ended 84 points lower at 51,233. NSE cash market volumes were lower by 8% compared to yesterday and lowest in more than a year. Declining shares outnumbered the advancing shares for the sixth day on the trot, where the advance-decline ratio stood at 0.98 on the BSE.
Stock market today
Speaking on the outlook for the Indian stock market today, Osho Krishnan, Sr. Analyst — Technical & Derivatives at Angel One, said, “Technically, the market structure remains unchanged as prices continue to trade within the range of last Friday’s large bearish candle. The sentiment stays weak, with intraday recoveries facing selling pressure and no strong positive momentum in sight. The 23,900 mark has acted as a significant resistance for the last two sessions, aligning with the 200 DSMA. For the upcoming monthly expiry, the 23900–24000 zone remains a critical hurdle, and a break beyond this range is required to spark positive momentum leading into the year-end. On the downside, the 23600–23500 range, representing the lower end of last Friday’s bearish candle, serves as immediate support. Consolidation within this range is expected, and a decisive breakout is needed to regain momentum. While the broader markets displayed some resilience with selective buying, traders are advised to remain cautious, avoid complacency with long positions, and adopt a selective trading approach.”
On the outlook for the Bank Nifty today, Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, said, “The Bank Nifty closed with a marginal loss near 51,200 zones once again resisting near the 51,400 levels witnessing a narrow rangebound session. The index needs to get past the important 100 periods MA at 51,700 zones to improve the bias from the current level. Further, a decisive breach above the significant 50-EMA level of 52,100 shall establish conviction for further rise.”
Intraday stocks for today
Regarding stocks to buy under ₹100, stock market experts — Sugandha Sachdeva, Founder of SS WealthStreet, Mahesh M Ojha, AVP — Research at Hensex Securities and Anshul Jain, Head of Research at Lakshmishree Investment and Securities — recommended buying these five intraday stocks for today: ICFI, MICEL, SNOWMAN, Morepen Laboratories, and JTL Industries.
Sugandha Sachdeva’s stocks to buy today
1] ICFI: Buy at ₹60.70, target ₹63.80, stop loss ₹58.80; and
2] MICEL: Buy at ₹86, target ₹96, stop loss ₹81.
Mahesh M Ojha’s shares to buy today
3] JTL Industries: Buy at ₹93 to ₹95, targets ₹97, ₹100 and ₹105;
4] Morepen Laboratories: Buy at ₹77 to ₹79, targets ₹82, ₹85 and ₹88, stop loss below ₹75.
However, Anshul Jain of Lakshmishree Investment and Securities said that one can buy Morepen Laboratories shares at CMP with a near-term target of ₹100, maintaining a stop loss at ₹70.
Anshul Jain’s intraday stock for today
5] SNOWMAN: Buy at ₹76.50, target ₹100, stop loss ₹70.
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.
