Intraday stocks for today under ₹100: Experts recommend six shares to buy today — 23 December 2024

Intraday stocks for today under ₹100: Following the hawkish US Fed outlook on the interest rate cut and FIIs’ selling, the Indian stock market snapped its four-week winning streak. The key benchmark indices erased their four-week gains in the week gone by. The Nifty 50 index slipped from 23,768 to 23,587, logging a weekly loss of 1,181 points. The BSE Sensex crashed from 82,133 to 78,041 levels, recording over 4,000 points loss last week. Likewise, the Nifty Bank index crashed from 53,583 to 50,759, logging a weekly loss of 2,824 points last week.

In this stock market crash, the Nifty 50 index broke below its 200-DEMA support, placing at 23,800, which may have boosted the morale of Indian stock market bears. In this bear-hit market, the Nifty 50 index is close to its recent swing low of 23,250, and bets are high on whether this support will remain sacrosanct or the 50-stock Index will touch a new low.

Stock market today

On the outlook for the Indian stock market today, Nandish Shah, Senior Derivative and Technical Research Analyst at HDFC Securities, said, “The Nifty 50 index is in continuation of a downtrend, and the only support visible on the chart is the swing low of 23,263, made on 28 November 2024. The 200-day SMA, placed at 23,834, is now expected to act as intermediate resistance for the short term.”

Expecting a recovery in the Indian stock market, Raj Gaikar, Research Analyst at SAMCO Securities, said, “Since April 1, 2020, the market has demonstrated a consistent pattern of recovery following similar declines. The average returns, win ratio, and median returns have been notably strong during this period. If this historical trend persists, the current drop could represent a strategic buying opportunity for investors.”

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 seven shares: Fedders Holding, IFCI, Dhanlaxmi Bank, NHPC, ASI Industries, and National Plastic Industries.

Sugandha Sachdeva’s stocks to buy today

1] Fedders Holding: Buy at ₹76, target ₹78.80, stop loss ₹74.60; and

2] IFCI: Buy at ₹60.60, target ₹63.50, stop loss ₹58.70.

Mahesh M Ojha’s shares to buy today

3] Dhanlaxmi Bank: Buy at ₹41 to ₹42, targets ₹44, ₹46, ₹48, and ₹50, stop loss ₹38; and

4] NHPC: Buy at ₹80 to ₹81.50, targets ₹84, ₹86, and ₹90, stop loss ₹77.80.

Anshul Jain’s intraday stocks for today

5] ASI Industries: Buy at ₹53.50, target ₹80, stop loss ₹46 (closing basis); and

6] National Plastic Industries: Buy at ₹67, target ₹100, stop loss ₹60 (closing basis).

Disclaimer: The views and recommendations above are those of individual analysts, experts, and brokerage firms, not Mint. We advise investors to consult certified experts before making any investment decisions.