Stocks below Rs 100 today: Experts recommend 7 stocks to buy today — December 20, 2024

Today’s intraday stocks $100: Indian stocks ended lower for the fourth consecutive day on Thursday following weak global market sentiment after the Federal Reserve meeting results were in line with market expectations. The Nifty 50 index plunged 236 points to close at 23,961 points; the BSE Sensex index plunged 939 points to close at 79,242 points; the Nifty Bank Index closed 528 points at 51,610 points. Barring Nifty Pharma, all industry indices fell.

Nifty IT, Nifty financial services and consumer durables declined the most. The Nifty Mid-cap 100 and Small-cap 100 indices fell for the third consecutive day, falling 0.28% and 0.51% respectively. Although the index closed in the red, both rebounded sharply from early morning lows and closed nearer the session high. Declining issues outnumbered advancing ones on the BSE for the third consecutive day, with a change ratio of 0.74.

Today’s stock market

Commenting on the outlook for the Indian stock market today, Sugandha Sachdeva, founder of SS WealthStreet, said: “Although the market is widely expected to cut interest rates by 25 basis points, the Nifty 50 index fell sharply in the previous session. The Fed’s hawkish outlook triggered The negative reaction has dampened market optimism, with the Fed currently forecasting just two rate cuts in 2025, a prospect dampened by a longer-than-expected forecast for the federal funds rate at 3.9% at the end of September. Global risk appetite has put pressure on domestic stock markets.

On the outlook for Nifty today, experts at SS WealthStreet said: “As expected, Nifty fell towards 23,900-23,820 zone, which is a key support area on the monthly time frame. If the levels remain unchanged, a recovery is likely; However, volatility is expected to intensify. If support is breached, the index could fall further to 23,700, with immediate resistance at 24,380, a level above which is necessary for a meaningful move higher.

On the triggers that could dominate stocks today, Sugandha Sachdeva said: “Market focus now turns to the US PCE index, the Fed’s preferred inflation gauge, which is likely to provide more clarity and direction in the coming days.”

Today’s intraday stocks

Regarding intraday stocks to buy today, stock market experts — Sugandha Sachdeva of SS WealthStreet, Anshul Jain, head of research at Lakshmishree Investment and Securities and Mahesh M Ojha, AVP of research at Hensex Securities — recommend buying the following seven stocks: Maharashtra Bank, HMA Agro Industries, Vakrangee, Paisalo Digital, NACL, Niraj Cement and Paramount Communications.

Stocks Sugandha Sachdeva bought today

1]Bank of Maharashtra: Purchased from $52.40, target $55.50, stop loss $50.50; and

2]HMA Agro-Industrial Company: Purchased from $39.80, target $42.40, stop loss $38.30.

Buy Anshul Jain Stock Today

3]Neeraj Cement: Purchased from $66. Goal $100. Stop loss $55 (settlement basis); and

4]Paramount Communications: Purchased from $85. Goal $120. Stop loss $75 (deadline).

Mahesh M Ojha’s intraday stocks today

5]Vaklanji: Purchased from $31.50 to $32.50, target $34. $36. $38. and $40. Stop loss $29.50;

6]Paisalo Numbers: Purchased from $55 to $57. Goal $59.50, $62. and $65; stop loss below $53; and

7]NACL: Purchased from $60 to $61.50, target $63.75, $66. $68, and $70. Stop loss $58.

Disclaimer: The above views and recommendations only represent those of individual analysts or brokerage firms and have nothing to do with Mint. Investors are advised to consult a certified expert before making any investment decisions.