Intraday stocks for today under ₹100: Experts recommend six shares to buy today — 17 December 2024

Intraday stocks for today under ₹100: Following muted global market sentiments, the Indian stock market ended lower and continued to protect the intraday losses on Monday. The Nifty 50 index lost 119 points and closed at the 24,649 mark, the BSE Sensex shed 433 points and ended at 81,699, while the Nifty 50 index went off 85 points and finished at 53,498. NSE cash market volumes were lower by 12% compared to Friday, the lowest since 26 November. The Nifty Mid-cap and the Nifty Small-cap indices outperformed the key benchmark indices as they rose by 0.77% and 0.64%, respectively.

Intraday stocks to buy today

Speaking on the outlook for the Indian stock market today, Sugandha Sachdeva, Founder of SS WealthStreet, said, “After a strong recovery toward the close of last week, Nifty experienced profit booking in the previous trading session, driven by weakness in IT, metals, and financial stocks. The decline in Nifty aligned with a broader slump in Asian equities, triggered by weak Chinese retail sales data for November. The disappointing economic data has heightened expectations for further stimulus measures by China, which could bolster global sentiment in the near term.”

US Fed meeting in focus

“Concerns persist regarding the US Fed’s rate cut trajectory in 2025, even as markets widely anticipate a rate reduction by the central bank in its meeting this week,” Sugandha said.

On the outlook for Nifty today, the SS WealthStreet expert said, “From a technical perspective, the benchmark index is facing minor resistance at the 24,880 level, which appears likely to be breached in due course. The broader trend remains positive, suggesting the continuation of upward momentum, though caution is warranted ahead of the crucial Fed meeting outcome.”

Intrada trading strategy

“For today’s session, Nifty is expected to find strong support at the 24,600 and 24,500 levels. On the upside, a break above the 24,880 mark could open the door to the psychologically significant 25,000 level,” said Sugandha Sachdeva.

Intraday stocks for today

Regarding intraday stocks to buy today, stock market experts — Sugandha Sachdeva of SS WealthStreet, Anshul Jain, Head of Research at Lakshmishree Investment and Securities, and Mahesh M Ojha, AVP — Research at Hensex Securities — recommended buying these six shares: SBFC Finance, Motherson Sumi Wiring India, Gokul Refoils and Solvent, Fiberweb (India), Peninsula Land, and Spic.

Sugandha Sachdeva’s stocks to buy today

1] SBFC Finance: Buy at ₹92, target ₹94.70, stop loss ₹90.20; and

2] Motherson Sumi Wiring India: Buy at ₹62.50, target ₹64.50, stop loss ₹61.30.

Anshul Jain’s shares to buy today

3] Gokul Refoils and Solvent: Buy at ₹63.50, target ₹65.50, stop loss ₹62.50; and

4] Fiberweb (India): Buy at ₹61.30, target ₹63, stop loss ₹60.

Mahesh M Ojha’s intraday stocks list

5] Peninsula Land: Buy at ₹48 to ₹49, targets ₹51, ₹53, ₹55 and ₹58, stop loss ₹45; and

6] SPIC: Buy at ₹76.50 to ₹77.50, targets ₹79, ₹82, ₹85 and ₹90, stop loss ₹73.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.