Intraday stocks for today under ₹100: After witnessing a sharp weakness on Tuesday, the Indian stock market showed high volatility with a positive bias on Wednesday and finished in the green territory. The Nifty 50 index ended 134 points higher at the 23,159 mark, the BSE Sensex finished 566 points and closed at 76,404, whereas the Nifty Bank index added 195 points and closed at 48,766. The broader markets underperformed the benchmark indices, with the Nifty Mid-cap 100 falling by 1.34% and the Nifty Small-cap 100 plunging by 1.63%. This bearish sentiment in the mid-cap and small-cap space was further reflected in the advance-decline ratio, which stood at 0.42 on the BSE.
Speaking on the Nifty 50 index outlook, Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, said, "The underlying trend of Nifty remains weak, and the market seems to have shifted into a broader range of 23000-23400 levels. A decisive move above the hurdle of 23400 could revive buying participation in the market. However, a slide below 22975 could open more weakness down to 22800 ahead."
On the outlook for the Nifty Bank Index, Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta, said, "Bank Nifty opened on a positive note, saw heavy volatility, and finally settled the day on a positive note at 48,724. Technically speaking, Bank Nifty, on a daily scale, has formed a doji candle, indicating uncertainty. As per the doji candle, the index will find support near 48,000. If the index holds 48,000 levels, a pullback rally towards 49,500-50,000 could be possible. Conversely, sustaining below 48,000 levels could extend further weakness."
Regarding stocks to buy or sell under ₹100, stock market experts Sumeet Bagadia, Executive Director at Choice Broking; 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 seven intraday stocks for today: South Indian Bank, Exxaro Tiles, MMTC, IFCI, Medico Remedies, SBFC Finance, and Imagicaaworld Entertainment.
1] South Indian Bank: Buy at ₹26.79, target ₹29, stop loss ₹25.50;
2] Exxaro Tiles: Buy at ₹9.78, target ₹10.60, stop loss ₹9.40.
3] MMTC: Sell at ₹71.20, target ₹67.50, stop loss ₹73.50;
4] IFCI: Sell at ₹56.60, target ₹53, stop loss ₹59.40.
5] Imagicaaworld Entertainment: Buy at ₹67 to ₹67.25, targets ₹69.80, ₹71.50, ₹74, and ₹80, stop loss below ₹64;
6] SBFC Finance: Buy at ₹90 to ₹90.50, targets ₹93.50, ₹97, and ₹100, stop loss below ₹87.
7] Medico Remedies: Buy at ₹71.40, target ₹75, stop loss ₹69.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views 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.