Stocks to buy under ₹100: The key benchmark indices of the Indian stock market commenced the holiday-shortened trading week on a buoyant note, with both the Nifty 50 and Sensex registering modest gains on Monday, August 25. A dovish tilt in commentary from US Federal Reserve Chair Jerome Powell during his recent address bolstered expectations of a potential rate cut, catalysing a wave of risk-on sentiment across global equities. The Nifty 50 index opened on a firm footing, reflecting positive global cues, and traded within a narrow consolidation band for most of the session. It ultimately settled at 24,967.75, marking an increment of 98 points or 0.39% on a closing basis. The Sensex followed suit, exhibiting similar resilience and mirroring the uptrend.
The broader market indices, however, displayed a more subdued undertone, with the Nifty Midcap 100 inching up by 0.12% and the Nifty Small Cap 100 closed on a flat note, indicating a mixed undertone in the secondary space. Sectorally, buying interest was notably pronounced in Information Technology stocks, with the Nifty IT index surging 2.4%, buoyed by a weaker dollar and improved global risk appetite. The Realty pack also garnered traction, adding 0.7%, while the Metal index advanced 0.65%, supported by a rebound in global commodity prices.
Stock market today
Speaking on the outlook of the Nifty 50 index, Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, said, “The opening upside gap of 18th August remains unfilled after six sessions of its formation. This bullish breakaway gap indicates more upside for the Nifty 50 index in the near term. Hence, the next upside target to be watched is around 25,200 to 25,300 in the near term. Immediate support for the Nifty 50 index is placed at 24,800.”
On the outlook of the Bank Nifty today, Om Mehra, Technical Research Analyst, SAMCO Securities, said, “The Bank Nifty index continues to hover close to the recent swing low of 54,905, which is acting as immediate support. A breakdown below this zone could drag the index further toward 54,600, which coincides with the 127.8% Fibonacci extension. The RSI stands at 40, hovering just above the oversold zone, while the MACD remains skewed to the downside. The histogram has flattened but does not show any divergence. The broader trend remains fragile as long as the index stays below its short-term averages. Support is placed at 54,900, followed by 54,600, while resistance stays firm at 55,500–55,600. Until the index crosses above these hurdles, short-term moves may remain choppy with risks tilted toward the downside.”
Intraday stocks for today under ₹100
Regarding stocks to buy today, Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, Sugandha Sachdeva, Founder of SS WealthStreet, and Anshul Jain, Head of Research at Lakshmishree Investment, recommended these three ₹100″>intraday stocks for today under ₹100: IRB Infrastructure, Polo Queen Industrial and Fintech, and Dhani Services.
1] IRB Infrastructure: Buy at ₹45, Target ₹48, Stop Loss ₹43.
Sugandha Sachdeva’s stock to buy under ₹100
2] Polo Queen Industrial and Fintech: Buy on dips at ₹47, Targets ₹52, 55.50, Stop Loss ₹43.
Anshul Jain’s share to buy under ₹100
3] Dhani Services: Buy at ₹66.50, Target ₹74, Stop Loss ₹63 (On Closing Basis).
Disclaimer: The views and recommendations above are those of individual analysts or brokerage companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
