Intraday stocks today under ₹100: Following the profit-booking trigger on Wall Street at record higher levels, the Indian stock market ended lower on Friday. The Nifty 50 index went off 30 points and closed at the 24,677 mark; the BSE Sensex shed 117 points and finished at 81,648, whereas the Nifty Bank index ended 110 points lower at 53,493. Cash market volumes on the NSE fell to ₹1.08 lakh crore. The broad market indices ended positively, even as the advance-decline ratio rose to 1.49:1.
Stock market today
Speaking on the outlook for the Indian stock market today, Sugandha Sachdeva, Founder of SS WealthStreet, said, “The Nifty 50 index experienced a marginal dip in the previous session as the RBI kept the interest rate steady and downgraded GDP growth projections for FY25 to 6.6%, from the earlier forecast of 7.2%. This triggered profit booking at higher levels. However, for the first time in four years, the central bank’s move to cut the CRR by 50 basis points to 4%, significantly boosted market sentiment. The CRR reduction, implemented in two tranches, is expected to inject ₹1.16 trillion into the banking system, enhancing liquidity and supporting credit growth.”
On triggers that may dominate Dalal Street in the near term, Sugandha Sachdeva said, “The broader market tone remains constructive, as the Nifty recorded its best weekly performance since early June, aided by robust buying momentum in financials and IT Stocks as well as recovery in Adani group stocks. As for the global cues, strong US jobs data for November underscored the resilience of the US economy, but this is unlikely to deter the Federal Reserve from proceeding with a rate cut at its final meeting of the year.”
Advising intraday traders to remain vigilant about the Nifty 50 index, the SS WealthStreet expert said, “The Nifty 50 index’s ability to sustain above its 200-day EMA reinforces the upward bias. While intermittent corrective moves cannot be ruled out, a buy-on-dips approach remains prudent as long as the 24,350–24,280 support zone holds on a closing basis. We anticipate Nifty to gradually advance towards 24,850–24,870 as the next resistance zone, potentially scaling the 25,000 mark in the coming sessions. However, some volatility may persist, driven by global cues and sectoral rotations.”
Intraday stocks 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 three shares: IFCI, Lloyds Engineering Works, NHPC, and PTC India.
Sugandha Sachdeva’s stocks to buy today
1] IFCI: Buy at ₹66, target ₹69.80, stop loss ₹63.70; and
2] Lloyds Engineering Works: Buy at ₹78.80, target ₹82.40, stop loss ₹76.
Mahesh M Ojha’s share to buy today
3] NHPC: Buy at ₹82 to ₹84, targets ₹87, ₹89 and ₹92, stop loss ₹79; and
4] PTC India: Buy at ₹44 to ₹44.75, targets ₹48 and ₹52, stop loss ₹42.
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.
