Intraday stocks for today under ₹100: Experts recommend these five shares to buy today — Dec 3

Intraday stocks for today under ₹10: Following the global market cues led by China, the Indian stock market ended higher on Monday. The Nifty 50 index finished 141 points upside at 24,272, the BSE Sensex ended 458 points north at 80,261, and the Nifty Bank index added 62 points and closed at 52,118. Cash market volumes on the NSE fell to ₹0.98 lakh crore. The broad market indices rose more than the Nifty 50 index even as the advance-decline ratio stayed high at 1.77:1.

Stock market today

Speaking on the outlook for the Indian stock market today, Sugandha Sachdeva, Founder of SS WealthStreet, said, “The Nifty 50 index has staged a sharp rally from the key support level of 23,900 over the past two trading sessions. The upside momentum will likely persist if the index manages to sustain above the crucial 24,350 level, which aligns closely with the 100-day exponential moving average (DEMA) and is proving to be a strong resistance on the upside. A rebound trade has continued for the past two weeks, recovering from a nearly 10% correction off record highs in late September; a convincing breakout above 24,350 is essential for the Nifty 50 index to sustain further upward momentum. A sustained move above this level shall pave the way for further gains, targeting 24,550 in the near term.”

“There is optimism surrounding the upcoming RBI policy meeting, with rising expectations of a rate cut amid a slowdown in India’s economy. GDP growth for Q2 FY25 slipped to a seven-quarter low of 5.4%, down from 8.1% in Q2 FY24 and 6.7% in Q1 FY25, creating a compelling case for a more accommodative monetary stance. Even if the MPC refrains from a rate cut, owing to elevated and persistent inflation, the RBI governor will likely maintain a dovish tone, leaving room for easing in February 2025. This could boost consumption and improve market sentiment,” Sugandha said, adding, “However, headwinds remain. The dollar index experienced a sharp rebound in the previous session, driven by US President-Elect Trump’s rhetoric of imposing 100% tariffs on BRICS nations if they proceed with plans to introduce or support a new currency to rival the US dollar in international trade. This has strengthened the greenback and might exert pressure on emerging market equities, including India.”

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: Suzlon Energy, Ola Electric, Snowman Logistics, Lloyds Engineering Works, and Dhani Services.

Sugandha Sachdeva’s stocks to buy today

1] Suzlon Energy: Buy at ₹64, target ₹68.80, stop loss ₹62; and

2] Ola Electric: Buy at ₹89, target ₹99, stop loss ₹94.

Mahesh M Ojha’s shares to buy today

3] Snowman Logistics: Buy at ₹75.80, targets ₹79.50, ₹82, ₹85 and ₹88, stop loss ₹71.80;

4] Lloyds Engineering Works: Buy at ₹77.45, targets ₹80, ₹83, ₹85, and ₹88, stop loss ₹72.80; and

5] Dhani Services: Buy at ₹78 to ₹79, target ₹82, ₹85, ₹88, ₹94 and ₹100; 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.