Intraday stocks for today under ₹100: Following mixed cues from the US stock market and 25 bps US Fed rate cut buzz fueled by the US CPI inflation, the Indian stock market ended lower on Thursday. The Nifty 50 index lost 104 points and closed at the 24,537 mark, the BSE Sensex recorded 262 points and closed at 81,263, while the Nifty Bank index finished 168 points lower at 53,222. All the sectoral indices ended in the red except the Nifty IT and the Nifty Metal. Nifty Media, FMCG and OIL/GAS were significant losers. The Nifty Small-cap 100 and the Micro-cap 250 indices broke the 14-day winning streak by falling 0.97% and 1.18%, respectively.
Intraday stocks for today under ₹100
Speaking on the outlook for the Indian stock market today, Sugandha Sachdeva, Founder of SS WealthStreet, said, “The Nifty 50 index slipped lower in the previous session as selling pressure emerged near the key resistance level of 24,680. Despite this, the index remained supported at 24,480. The trend appears slightly bearish for the intraday session unless Nifty sustains above the immediate resistance at 24,680. A breach below the 24,480-support level could trigger further downside towards 24,350. After three consecutive weeks of gains, the index has entered a consolidation phase this week. Meanwhile, FIIs continued their net selling streak in domestic equities for the second consecutive day, signalling cautious sentiment.”
On triggers that may dominate Dalal Street bias, Sugandha Sachdeva said, “On the domestic front, retail inflation eased to 5.48% in November, down from 6.21% in October 2024. This figure remains well within the RBI’s target range of 2-6%, strengthening the case for a potential rate cut during the central bank’s February meeting,” adding, “Globally, the dollar index strengthened as the ECB cut interest rates by 25 bps, as expected, and maintained a dovish outlook. Additionally, US wholesale prices rose more than anticipated, with PPI increasing by 0.4% month-on-month in November compared to the consensus estimate of 0.2%. This has raised concerns that the US Fed might adopt a more cautious approach to rate cuts in 2025.”
Regarding intraday stocks for today under ₹100 today, stock market experts Sugandha Sachdeva of SS WealthStreet and Anshul Jain, Head of Research at Lakshmishree Investment and Securities, recommended buying these four shares: NMDC Steel, Hathway Cables, Asian Granito India, and Lloyds Engineering Works.
Sugandha Sachdeva’s stocks to buy or sell
1] NMDC Steel: Sell at ₹47.60, target ₹45.30, stop loss ₹49.10; and
2] Hathway Cables: Buy at ₹17.50, target ₹18.30, stop loss ₹17.
Anshul Jain’s shares to buy today
3] Asian Granito India: Buy at ₹75 to ₹76, target ₹90, stop loss ₹69; and
4] Lloyds Engineering Works: Buy at ₹79 to ₹80, target ₹120, stop loss ₹72.
Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.
