Intraday stocks for today under ₹100: Experts recommend five shares to buy today — Dec 4

Intraday stocks for today under ₹100: Following a rally in the US stock market and other bourses of the global markets, the Indian stock market ended higher on Tuesday. The Nifty 50 index gained 181 points and closed at 24,457, above the crucial resistance at 24,400. The BSE Sensex finished 587 points higher at 80,835, while the Nifty Bank index ended 611 points higher at 52,720. Cash market volumes on the NSE rose 16% to ₹1.15 lakh crore. The broad market indices rose more than the Nifty 50 index even as the advance-decline ratio rose to 2.8:1.

Stock market today

Speaking on the outlook for the Indian stock market today, Sugandha Sachdeva, Founder of SS WealthStreet, said, “The Nifty 50 index extended its gains for a third consecutive session, as it has been able to seek strong support at the 23,900 mark last week. After multiple failed attempts, the index finally broke through the key hurdle at the 24,350 level in the previous session and closed on a strong note. The overall market sentiment remains positive, and FIIs bought shares worth Rs.3,665 crore, reflecting renewed investor confidence. Most sectoral indices closed higher, led by a strong rally in banking stocks. Additionally, mid-cap and small-cap indices have consistently progressed upward, marking gains for eight straight sessions.

On triggers that may dominate the Indian stock market, the SS WealthStreet expert said, “Adding to the optimism, the dollar index softened slightly, and market participants now await the Fed Chair’s speech, which could provide insights into the monetary policy stance of the US Fed. On the domestic front, attention remains focused on the upcoming RBI policy meeting, with widespread calls for a rate cut amid a sharp growth slowdown in Q2 FY25. Even if the RBI delays cutting rates until February 2025, the central bank is expected to adopt other measures to ease liquidity conditions, supporting growth.”

“Looking ahead, the 24,350 level, previously a resistance, is now expected to act as a key support. The frontline index appears poised to move towards its next significant resistance at 24,750 in the coming days. However, headwinds persist. The rupee weakened to a record low of 85.7575 against the dollar, and the rebound in crude oil prices in the previous session could cap market gains to some extent,” Sugandha added.

Intraday stocks for today

Regarding intraday stocks to buy today, stock market experts — Sugandha Sachdeva of SS WealthStreet and Mahesh M Ojha, AVP — Research at Hensex Securities — recommended buying these five shares: Manali Petro, IOB, Central Bank of India, Hindustan Construction Company (HCC), and Patel Engineering.

Sugandha Sachdeva’s stocks to buy today

1] Manali Petro: Buy at ₹65, target ₹70.30, stop loss ₹61.70; and

2] IOB: Buy at ₹53, target ₹57.50, stop loss ₹50.70.

Mahesh M Ojha’s shares to buy today

3] Central Bank of India: Buy at ₹56 to ₹56.75, targets ₹59, ₹62 and ₹65, stop loss ₹53.70;

4] HCC: Buy at ₹45 to ₹46, target ₹48, ₹51 and ₹54, stop loss ₹43.50; and

5] Patel Engineering: Buy at ₹54 to ₹55, targets ₹57.50, ₹59 and ₹61, stop loss ₹51.80.

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.