Intraday stocks for today under ₹100: Experts recommend five shares to buy or sell today — 7 January 2025

Intraday stocks for today under ₹100: Extending the bearish trend for the second straight session, the Indian stock market ended lower on Monday. The Nifty 50 index registered the most significant loss since 3 October 2024 in percentage terms and finished 375 points lower at 23,629. The BSE Sensex crashed 1,222 points and closed at 78,000, while the Nifty Bank index ended 1,028 points lower at 49,960. After losing over 2 per cent on Monday, the Nifty Bank Index closed at the lowest level since 14th August 2024. 

The mid-cap and small-cap indices underperformed the Nifty, where the Nifty Mid-cap and small-cap 100 Indices fell by 2.70% and 3.20%, respectively, against the Nifty's 1.62% fall. Declining shares outnumbered advancing shares, and the advance-decline ratio stood at 0.19 at BSE, the lowest since 22 October 2024.

Stock market today

Expecting volatility in the Indian stock market today, Siddhartha Khemka, Head of Research—Wealth Management at Motilal Oswal, said, "We expect markets to remain volatile until concerns relating to the new virus ease out. We could see stock/sector-specific action on the back of pre-quarterly business updates and the start of the Q3 results 2024-25 season."

Speaking on the outlook for the Nifty 50 index, Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, said, "The short-term trend of the Nifty 50 index is weak, and one may expect some more weakness in the coming sessions. The next lower supports are seen near 23,460 and 23,260 levels. Any upside bounce could find a hurdle around 23,800."

On the outlook for the Nifty Bank index, Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C Mehta, said, "The Bank Nifty index opened on a flat note, witnessed considerable selling pressure and settled the day on a negative note at 49,922. Technically, the Bank Nifty has formed a big bearish candle on a daily scale, indicating weakness. Moreover, the index broke the 200-Day Exponential Moving Average (200-DEMA) near 50,500 levels. On the downside, 49,700-49,600 will immediately support the index. If the index remains below 50,500, ongoing weakness will continue."

Intraday stocks for today under ₹100

Regarding intraday stocks for today, stock market experts — Sugandha Sachdeva, Founder of SS WealthStreet, Mahesh M Ojha, AVP — Research at Hensex Securities, and Anshul Jain, Head of Research at Lakshmishree Investment and Securities — recommended these five stocks to buy or sell: IOB, Ola Electric, Jain Irrigation Systems, Vakrangee, and Udayshivakumar Infra.

Sugandha Sachdeva's buy or sell stocks

1] IOB: Buy at ₹50.40, target ₹52.70, stop loss ₹49.20; and

2] Ola Electric: Sell on the rise at ₹81, targets ₹76 and ₹74.50, stop loss ₹84.20.

Mahesh M Ojha's intraday stocks for today

3] Vakrangee: Buy at ₹32 to ₹33, targets ₹36, ₹38, ₹42, and ₹48, stop loss ₹29; and

4] Udayshivakumar Infra: Buy at ₹54 to ₹55.50, targets ₹58.50, 62, ₹65 and ₹70, stop loss below ₹52.

Anshul Jain's day trading stock

5] Jain Irrigation Systems: Buy at ₹71.50, target ₹75.50, stop loss ₹69.50 (Closing Basis).

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.