Stocks to buy or sell under ₹100: Experts recommend five intraday stocks for today

Stocks to buy or sell under ₹ 100: After showing weakness from the highs on Tuesday, the Indian stock market witnessed an excellent upside bounce and closed higher on Wednesday. The Nifty 50 index gained 205 points and closed at the 23,163 mark; the BSE Sensex ended 631 points higher at 76,532, whereas the Bank Nifty index finished 299 points up at 49,165. In the broad market, the BSE Small-cap index skyrocketed 3.

28 per cent while the BSE Mid-cap index gained 2.54 per cent. Stock market today Speaking on the outlook for the Indian stock market today , Motilal Oswal's report says, "FIIs Long Short Ratio is now at around 20%, which is near the lower part of the range, but selling from FIIs in Cash market is the real cause of concern to get the market stability.

A lower FII Index Long Short ratio indicates a light position for foreign market players. India VIX has seen a surge from 13 to 19 levels in the last five weeks, and rising volatility has created swings with negative bias in the market. The market will focus more on Budget-related developments, with capex and consumption-related sectors likely to be at the forefront.

The Q3 earnings from Larsen and BEL will be keenly tracked ahead of the budget, amongst other results to be released on Thursday." On the outlook for the Nifty 50 index, Osho Krishnan, Sr. Analyst — Technical & Derivatives at Angel One, said, "Despite this change, a sense of uncertainty continues to loom in the markets; however, the potential for significant downside appears limited.

On the technical levels front, the 23000 zone is anticipated to serve as a protective barrier against any intraday fluctuations in the Nifty50 index, acting as a cushioning zone, followed by the sacrosanct support of 22900-22800. On the upside, the 20 DEMA, which aligns with the neckline of the prior breakdown at 23350-23400, establishes a crucial resistance point. This level will be essential to monitor in the coming days, as it may determine the index's ability to break out or face further challenges.

Caution is advised as we navigate through this market landscape." Asked about the outlook of the Nifty Bank index, Om Mehra, Technical Analyst at SAMCO Securities, said, "The immediate support for Nifty Bank is 48,750, which serves as a crucial floor for any near-term corrections. On the upside, minor resistance is situated at 49,650.

A decisive break above this level could enhance the bullish outlook, potentially opening the door for further gains." Intraday stocks for today under ₹ 100 Regarding intraday stocks for today 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: Reliance Power, Dhani Services, Gateway Distriparks, Shree Renuka Sugars, and HFCL. Sugandha Sachdeva's buy or sell stocks 1] Reliance Power: Buy at ₹ 37.

60, target ₹ 39.30, stop loss ₹ 36.40; and 2] Dhani Services: Sell at ₹ 79.

60, target ₹ 77, stop loss ₹ 81.20. Mahesh M Ojha's stocks to buy under ₹ 100 3] Shree Renuka Sugars: Buy at ₹ 37 to ₹ 38, targets ₹ 39.

50, ₹ 42, and ₹ 45, stop loss below ₹ 36; and 4] HFCL: Buy at ₹ 95 to ₹ 96.20, targets ₹ 98, ₹ 100, ₹ 102, and ₹ 105, stop loss ₹ 93. Anshul Jain's intraday stock for today 5] Gateway Distriparks: Buy at ₹ 77, ₹ 84, ₹ 75.

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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