Intraday Stocks Under ₹100 for Today : Today, the Indian stock market took a hit for the fourth day in a row, following some weak global market sentiments after the US Federal Reserve’s recent meeting. The Nifty 50 index dropped by 236 points closing at 23,961, while the BSE Sensex fell 939 points to end at 79,242 The Nifty Bank index also saw a decline, finishing down 528 points at 51,610 Unfortunately, all sector indices ended in the red, except for Nifty Pharma. The biggest losers were in the Nifty IT Nifty Financial Services and Consumer Durables sectors. The Nifty Mid-cap 100 and Small-cap 100 indices continued their downward trend for the third consecutive day, dropping by 0.28% and 0.51% respectively. However, both indices managed to recover significantly from their early morning lows and ended the day closer to their highs. For the third day running, more stocks declined than advanced, with the advance-decline ratio at 0.74 on the BSE.
Looking ahead, Sugandha Sachdeva, the founder of SS WealthStreet, shared her thoughts on the market’s outlook. She noted that the Nifty 50 index experienced a sharp drop in the last session, even though many expected a 25 basis points rate cut from the US Federal Reserve. This negative response was largely due to the Fed’s cautious stance, which dampened market optimism. The central bank now anticipates only two rate cuts in 2025, down from four that were suggested in September. The updated forecast for the Fed funds rate is now 3.9% by the end of 2025 up from the previous 3.4% indicating that inflation might stick around longer than we thought. This outlook has made investors more cautious, putting pressure on domestic stocks. Regarding the Nifty today, Sachdeva mentioned that it is expected to decline towards the 23,900-23,820 range, which is a key support level. If this support holds, a recovery could be on the horizon, but we should brace for increased volatility. If this support level is broken, the index might drop further to around 23,700. The immediate resistance level is set at 24,380 and breaking above this could signal a more significant upward movement. As for what might influence the stock market today, Sachdeva pointed out that all eyes are now on the US PCE index, which is the Fed’s preferred measure of inflation. This could provide more clarity and direction in the coming days.
Intraday Stocks to Consider Today
For those looking to invest in intraday stocks under ₹100, experts have recommended the following seven shares:
1. Bank of Maharashtra
2. HMA Agro Industries
3. Vakrangee
4. Paisalo Digital
5. NACL
6. Niraj Cement
7. Paramount Communications
Stocks to Consider Buying Today Sugandha Sachdeva’s Picks: 1. Bank of Maharashtra: You can buy it at ₹52.40 with a target price of ₹55.50 Set your stop loss at ₹50.50
2. HMA Agro Industries: This one is available for purchase at ₹39.80, aiming for a target of ₹42.40. Keep a stop loss at ₹38.30. Anshul Jain’s Recommendations: 3. Niraj Cement: Buy this stock at ₹66, with a target of ₹100. Make sure to set a stop loss at ₹55 based on closing prices.
4. Paramount Communications: You can get this at ₹85, targeting ₹120. Set your stop loss at ₹75 (closing basis). Mahesh M Ojha’s Intraday Picks: 5. Vakrangee: Look to buy between ₹31.50 and ₹32.50, with targets of ₹34, ₹36, ₹38, and ₹40. Set a stop loss at ₹29.50.
6. Paisalo Digital: This stock can be bought for ₹55 to ₹57, with targets of ₹59.50, ₹62, and ₹65 Keep your stop loss below ₹53.
7. NACL: Buy this stock at ₹60 to ₹61.50, aiming for targets of ₹63.75, ₹66, ₹68, and ₹70 Set a stop loss at ₹58.
