Stocks to buy under ₹100: Experts recommend five shares to buy or sell on Tuesday — 4 February 2025
- Stocks to buy under ₹100: Experts recommend five shares to buy or sell on Tuesday — IOB, Motherson Sumi Wiring India, Satia Industries, Cupid, and Spencer's Retail
Stocks to buy under ₹100: The Indian stock market experienced turbulence during Monday deals as investors grew increasingly wary of potential global trade disruptions following President Trump's tariffs. The Nifty 50 index finished 121 points lower at the 23,361 mark, the BSE Sensex shed 319 points and closed at 77,186, whereas the Bank Nifty index ended 296 points lower at 49,210. The Nifty PSE index tumbled 3.2% as investors reduced their exposure to state-owned companies following disappointing budget allocations. Larsen & Toubro was the most significant contributor to the index decline, falling 4.6%. Among sectors, IT, Consumer Durables, and Pharma closed in positive territory, while Oil & Gas, Metal, and FMCG sectors faced the steepest declines.
Stock market today
On the outlook for the Indian stock market today, Siddhartha Khemka, Head of Research—Wealth Management at Motilal Oswal, said, "Post-Budget, the market focus has shifted to global developments, including Trump's trade policy, the upcoming RBI policy meeting, and Q3 results today, including those from Titan, Asian Paints, Tata Power, Godrej Properties, etc.
Asked about the outlook of the Nifty 50 index, Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, said, "The near-term uptrend of Nifty remains intact. The present weakness could soon end up at the lows, and another round of upside bounce is likely to resume from the higher lows. However, a decisive upside breakout of 23,500 to 23,600 levels could open more upside ahead. Immediate support for Nifty today is placed at 23,200 levels."
Speaking on the outlook for the Bank Nifty today, Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta said, "Bank Nifty opened lower, experienced volatility, and finally settled the day on a negative at 49,211. Technically, the Bank Nifty has found support around the 21-Days Simple Moving Average (21-DSMA) and formed a green candle on the daily chart, indicating strength. Resistance is placed around 50,000, with immediate support at 48,900, and a breakout in either direction will determine the next move for the index."
Intraday stocks for today under ₹100
On stocks to buy under ₹100, 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 intraday stocks for today: IOB, Motherson Sumi Wiring India, Satia Industries, Cupid, and Spencer's Retail.
Sugandha Sachdeva's stocks to buy under ₹100
1] IOB: Buy at ₹48.20, target ₹50.40, stop loss ₹46.80; and
2] Motherson Sumi Wiring India: Buy at ₹55.80, target ₹58.50, stop loss ₹54.
Mahesh M Ojha's shares to buy under ₹100
3] Cupid: Buy at ₹73 to ₹75, targets ₹78, ₹80, ₹83, and ₹85, stop loss ₹below ₹70; and
4] Spencer's Retail: Buy at ₹85 to ₹86, targets ₹89, ₹92, ₹95, and ₹100, stop loss below ₹82.
Anshul Jain's intraday stock for today
5] Satia Industries: Buy at ₹89, target ₹93, stop loss ₹87 (Closing Basis).
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 taking any investment.
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