Stocks to buy under ₹100: Experts recommended six intraday stocks for today — 9 January 2025

Stocks to buy under ₹100: Following weak global market sentiments after the sell-off on Wall Street, the Indian stock market crashed in the early morning session on Wednesday. However, the frontline indices pared their early morning losses with strong buying in the Sensex heavyweight Reliance Industries Ltd shares. The Nifty 50 index ended 33 points lower at the 23,674 mark, the BSE Sensex went off 50 points and closed at 78,148, while the Nifty Bank Index corrected 366 points and finished at 49,836. Amongst the sectoral indices, Nifty OIL/GAS, IT and FMCG were major gainers, while Nifty Consumer durables, Healthcare and Pharma fell the most. Declining shares outnumbered the advancing shares, where the advance-decline ratio stood at 0.54 levels on BSE.

Stock market today

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 continues to be weak. However, Tuesday’s upside bounce could be a slight positive factor for the bulls to return. Immediate resistance is at 23,800, and the upside breakout of this hurdle could open further upside for the short term. Immediate support is at 23,460.”

On the outlook for the Bank Nifty today, Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta, said, “Bank Nifty opened flat but faced heavy selling pressure, and settled the day on a negative note at 49,835. Technically, Bank Nifty has broken its 250-day Simple Moving Average (250-DSMA) support and formed a red candle on a daily scale, indicating weakness. Moreover, the index is still placed below 200-DSMA, which is near the 50,720 level. However, the index managed to close above the trend line support. As long as Bank Nifty maintains below 50,720 levels, traders are advised to book profits on the bounce.”

On the outlook for the Indian stock market today, Siddhartha Khemka, Head of Research—Wealth Management at Motilal Oswal, said, “We expect Indian markets to remain range-bound with stock/sector-specific action based on upcoming Q3 results 2024-25.”

Intraday stocks for today under ₹100

Regarding stocks to buy under ₹100, 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 buying these six intraday stocks for today: Lloyds Engineering Works, Alok Industries, Central Bank of India, MMTC, Confidence Petroleum India, and Mukta Arts.

Sumeet Bagadia’s intraday stock

1] Lloyds Engineering Works: Buy at ₹87.81, target ₹94, stop loss ₹85.

Sugandha Sachdeva’s shares to buy under ₹100

2] Alok Industries: Buy at ₹19.90, target ₹21.30, stop loss ₹19; and

3] Central Bank of India: Buy at ₹52.50, target ₹54.70, stop loss ₹51.

Mahesh M Ojha’s stocks to buy today

4] MMTC: Buy at ₹74 to ₹76, targets ₹78.50, ₹81, ₹84, ₹88; and

5] Confidence Petroleum India: Buy at ₹72 to ₹73.50, targets ₹76.50, ₹78, and ₹80, stop loss ₹69.50.

Anshul Jain’s day trading stock

6] Mukta Arts: Buy at ₹92.50, target ₹96.50, stop loss ₹90.

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.