Stocks to buy under ₹100: Experts recommend six intraday stocks for today — 10 January 2025
- Stocks to buy under ₹100: Experts recommend six intraday stocks for today — Kamdhenu, Jaiprakash Power, Meghmani Organics, Shiva Cement, Arihant Capital, and TPL Plastech
Stocks to buy under ₹100: The Indian stock market remained sideways on Thursday as the Nifty 50 index once again remained in the tight 23,500 to 23,700 range. On the Nifty weekly expiry session, the Nifty 50 index finished 139 points lower at the 23,549 mark; the BSE Sensex ended 528 points lower at 77,620, whereas the Bank Nifty Index finished 286 points lower at 49,548. However, the selling pressure extended beyond large-caps, with mid-cap and small-cap indices continuing their downward trajectory. The Nifty Mid-cap 100 Index declined 0.93%, while the Nifty Small-cap 100 Index saw a steeper fall of 1.35%. Market breadth remained decisively negative, with the BSE's advance-decline ratio at 0.45, indicating significantly more declining shares than advancing ones.
Stock market today
Speaking on the outlook for the Nifty 50 today, Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, said, "The Nifty 50 index is currently placed at the downside breakout of the support of around 23,500 levels (previous swing lows). A decisive slide below the said support could open the next downside of around 23,260 and lower in the short term. Immediate resistance is at 23,700."
On the outlook for the Bank Nifty today, Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta, said, "Bank Nifty opened on a negative note, extended its weakness, and settled the day on a negative note at 49,504. Technically speaking, Bank Nifty sustained below its 250-day Simple Moving Average (250-DSMA) support and formed a red candle on a daily scale, indicating weakness. The 250-DSMA is placed near 49,900, which will operate as a powerful barrier for the index, followed by 50,740, where 200-DSMA is located. As long as Bank Nifty maintains below 50,740 levels, traders are advised to book profits on the bounce."
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 six intraday stocks for today: Kamdhenu, Jaiprakash Power, Meghmani Organics, Shiva Cement, Arihant Capital, and TPL Plastech.
Sugandha Sachdeva's stocks to buy under ₹100
1] Kamdhenu: Buy at ₹49, target ₹54, stop loss ₹46.30; and
2] Jaiprakash Power: Buy at ₹16.70, target ₹18, stop loss ₹15.90.
Mahesh M Ojha's intraday stocks for today
3] Meghmani Organics: Buy at ₹80 to ₹82, targets ₹84.50, ₹87, ₹91, and ₹95, stop loss ₹78; and
4] Shiva Cement: Buy at ₹41 to ₹42.50, targets ₹45, ₹48, ₹50, and ₹52, stop loss ₹38.50.
Anshul Jain's shares to buy under ₹100
5] Arihant Capital: Buy at ₹98.50, target ₹103.50, stop loss ₹97.50 (Closing Basis); and
6] TPL Plastech: Buy at ₹97, target ₹102, stop loss ₹95 (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 making any investment decisions.
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