Stocks to buy under ₹100: Sumeet Bagadia recommends three shares to buy on Monday – 17 February 2025 | Stock Market News
Source: Live Mint
Stocks to buy under ₹100: Domestic equity benchmarks Sensex and Nifty 50 recorded losses for eight consecutive sessions, weighed down by continued foreign fund outflows, concerns over US trade tariffs, and disappointing corporate quarterly earnings.
The 30-share BSE Sensex fell by 199.76 points, or approximately 0.26%, closing at 75,939.21. Earlier in the day, it plunged 699.33 points, or 0.91%, to reach an intraday low of 75,439.64. Meanwhile, the NSE Nifty 50 dropped 102.15 points, or 0.44%, ending at 22,929.25 on Friday.
“Technical indicators suggest a bearish outlook, with key EMAs (20, 50, 100, 200) aligning in a downtrend. The Stochastic RSI is trading in the oversold region, while the RSI stands at 38, indicating persistent selling pressure. Market participants should closely watch the 22,800 level for further directional cues,” said brokerage firm Choice Broking in a report.
Sumeet Bagadia’s stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that the Indian stock market remains weak, with the Nifty 50 index falling decisively below the 23,000 mark.
Speaking on the outlook for the Indian stock market, Sumeet Bagadia said, “The Indian stock market bias is weak as the Nifty 50 index slipped below 23,000 mark decisively. However, the frontline index witnessed a decent pullback after retesting 22,800 support for the third time in recent sessions. A decisive break above 23,300 would establish positive conviction.”
Regarding stocks to buy under ₹100, Sumeet Bagadia recommended buying these three shares: Norben Tea and Exports Ltd, N K Industries Ltd, and Raj Rayon Industries Ltd.
Stocks to buy under ₹100
1] Norben Tea and Exports: Momentum buy at ₹36.54, Stop Loss of ₹35; Target Price of ₹39.
2] N K Industries: Momentum buy at ₹72.41, Stop Loss of ₹69; Target Price of ₹78.
3] Raj Rayon Industries: Momentum buy at ₹23.37, Stop Loss of ₹22; Target Price of ₹25.
Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.
