Stocks to buy under ₹100: Following the Israel-Iran ceasefire, the Indian stock market extended its uptrend for another session. The Nifty 50 index finished 200 points higher at 25,244, the BSE Sensex ended 700 points higher at 82,755, while the Bank Nifty index added 159 points and closed at 56,621. Leading the charge among the top performers on the Nifty were Titan, M&M, and Grasim. Conversely, BEL, Kotak Bank, and Eicher Motors ended the session as major losers. Trading volumes on the NSE cash market were lower by 9% compared to the previous session.
Highlighting a broad positive sentiment, the Midcap and Smallcap indices extended their upward journey for the fourth consecutive day. The Nifty Midcap 100 gained 0.44%, and the Nifty Smallcap 100 surged 1.49%. Market breadth remained positive for the second day, with advancing stocks significantly outnumbering declining ones, reflected in a robust BSE advance-decline ratio of 2.34—its highest since May 14th.
Speaking on the outlook of the Nifty 50 today, Shiju Kuthupalakkal, Senior Manager of Technical Research at Prabhudas Lilladher, said, "The Nifty 50 index indicated a strong closing above the 25,200 zone after a long wait with further rise expected in the coming sessions with the overall sentiment easing out and bias improving as of now. As mentioned earlier, the index's decisive breach above the 25,250 zone shall trigger a fresh, further upward move in the coming days, with targets of 25,700 and 26,200 levels visible. On the downside, the near-term support shall be elevated to the 24,800 zone, which needs to be sustained to maintain the overall bias intact."
"The Bank Nifty index has moved into the positive territory above the 56,000 zone with bias and sentiment improving, expecting further rise in the coming days, and once a decisive breach above the 57,000 zone is confirmed, it shall trigger a fresh upward move with higher targets of 58,500 and 60,000 levels achievable. The 50-EMA zone at the 54,900 level would be an important support. In contrast, the near-term support is positioned near the 55,400 level, which needs to be sustained as of now," said Shiju Kuthupalakkal of Prabhudas Lilladher.
Regarding stocks to buy today, market experts — Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher; Mahesh M Ojha, AVP — Research at Hensex Securities; and Sugandha Sachdeva, Founder of SS WealthStreet — recommended four intraday stocks for today under ₹100: Reliance Power, Manali Petrochemicals, TGV SRAAC, and GMR Airports.
1] Reliance Power: Buy at ₹66, Target ₹72, Stop Loss ₹63.
2] Manali Petrochemicals: Buy at ₹69 to ₹70, Targets ₹72, ₹74, ₹76, ₹80, Stop Loss ₹67; and
3] TGV SRAAC: Buy at ₹97.50 to ₹98.60, Targets ₹99.80, ₹102, ₹105, ₹108, Stop Loss ₹95.80.
4] GMR Airports: Buy on dips at ₹82.20, Targets ₹85.20, ₹87, Stop Loss ₹80.70.
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 making any investment decisions.
Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.