Stocks to Buy Under ₹100: Experts Pick Six Promising Stocks Amid Market Volatility

Indian stocks ended the week on a lower note, influenced by weak global market cues and a five-day losing streak in the US stock market. The Nifty 50 index saw a decline of 183 points, holding steady above the crucial 24,000 mark, while the BSE Sensex plunged by 773 points, closing at 79,170. The Nifty Bank index also faced a significant dip, dropping 632 points to settle at 50,972. Despite the negative trend, sectors such as Media, Oil & Gas, and Consumer Durables led the gains, while IT, Pharmaceuticals, and Banking were the most impacted.

Stock Market Outlook for the Coming Week

As for the Nifty 50 index, Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, remains optimistic about its near-term uptrend. He stated that a decisive move above Thursday’s high of 24,226 could drive buying interest, potentially pushing the index towards 24,400-24,500. Immediate support levels are expected around 23,930 to 23,840.

Regarding the Nifty Bank index, Hrishikesh Yedve, AVP of Technical and Derivatives Research at Asit C Mehta, mentioned that while the index has seen some bearish pressure, it is still holding above key support levels, including the 200-Day Exponential Moving Average (200-DEMA) at 50,500. Resistance is noted around 52,000, and any breakout beyond this range could set the next direction for the Bank Nifty.

Expert Picks for Stocks to Buy Under ₹100

Despite the broader market challenges, experts have identified several promising stocks priced under ₹100. Here are their recommendations:

Sugandha Sachdeva’s Picks:

  1. Yes Bank: Buy in the ₹19.40 to ₹19.60 range, with a target of ₹21.20 and a stop loss at ₹18.70.
  2. Aartech Solonics: Buy on dips around ₹88.50, target ₹94, with a stop loss at ₹86.40.

Mahesh M Ojha’s Picks:

  1. IDFC First Bank: Buy at ₹64 to ₹65.50, with a target range of ₹68 to ₹78, and a stop loss at ₹62.
  2. Bank of Maharashtra: Buy in the ₹54 to ₹55 range, with targets of ₹58.50, ₹62, ₹65, and ₹68, and a stop loss at ₹52.

Anshul Jain’s Picks:

  1. Manaksia Steels: Buy at ₹62.40, target ₹65, with a stop loss at ₹60 (closing basis).
  2. AMD Industries: Buy at ₹66.50, target ₹70.50, with a stop loss at ₹64.50.

As market conditions remain volatile, stock and sector-specific actions are expected to dominate the near-term trading landscape. The above recommendations from experts offer a mix of promising stocks under ₹100 that may provide attractive returns for investors. However, as always, it is advisable to consult a financial advisor before making any investment decisions.

Disclaimer: The views and recommendations expressed in this article are those of individual analysts or brokerage firms and not of this publication.

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