Intraday stocks for today under ₹100: Experts pick seven shares to buy today — Dec 12

Intraday stocks for today: The Indian stock market continued to trade range-bound throughout the Wednesday session. The Nifty 50 index finished marginally higher at the 24,629 mark, while the BSE Sensex ended marginally lower at 81,496. The Nifty Bank index corrected 185 points and closed at 53,392. In the broad market, the Small-cap and Mid-cap indices outperformed the frontline indices by logging 0.4 and 0.2 per cent rise, respectively. Defensive sectors, including FMCG and healthcare, experienced an uptick. Additionally, the metal sector saw gains driven by optimism surrounding potential stimulus measures from China. FIIs and DIIs were net buyers on Tuesday, which induced positive market sentiments.

Intraday stocks for today

Speaking on the outlook for the Indian stock market today, Sugandha Sachdeva, Founder of SS WealthStreet, said, "The Nifty 50 index traded within a narrow range and ended the day with marginal gains, as caution dominated ahead of the US inflation data release, which is expected to influence the Federal Reserve's rate cut decision next week. The near-term trend for the benchmark index remains skewed to the upside as long as the key level of 24280 continues to underpin the headline index. However, range-bound trading persists as markets await further cues amidst a surge in the dollar index and escalating tensions in the Middle East."

On triggers that may dominate Dalal Street today, Sugandha Sachdeva said, "According to the latest data, US CPI rose by 2.7% year-on-year in November, slightly higher than October's 2.6%, but in line with expectations. On a month-on-month basis, CPI increased by 0.3%, matching consensus estimates but slightly above 0.2% the prior month. This has reinforced expectations that the US Fed will proceed with a 25 bps cut at its meeting."

"From an intraday perspective, immediate support for Nifty today is seen at 24,480, while resistance lies at 24,680. A breakdown below the 24,480 mark could trigger selling pressure, while a sustained move above 24,680 is likely to attract buying interest, pushing the index towards 24,750 and 24,880 levels," Sugandha said.

Suggesting intraday traders to remain vigilant about the possible upcoming triggers, the SS WealthStreet expert said, “Focus now shifts to domestic inflation data, which, if it shows signs of easing, could bolster the case for a rate cut by the RBI at its February meeting, potentially boosting market sentiment.”

Stocks to buy today

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 — Research at Hensex Securities — recommended buying these seven shares: Gateway Distriparks, Tamilnadu Petroproducts, Jain Irrigation Systems, AMJ Land Holdings, Rico Auto, Imagicaaworld Entertainment, and Morepen Laboratories.

Sugandha Sachdeva's stocks to buy today

1] Gateway Distriparks: Buy at ₹89, target ₹92.30, stop loss ₹86.80;

2] Tamilnadu Petroproducts: Buy at ₹87.30, target ₹91.70, stop loss ₹84.80.

Anshul Jain's shares to buy today

3] Jain Irrigation Systems: Buy at ₹80.50, target ₹86.50, stop loss ₹77;

4] AMJ Land Holdings: Buy at ₹65.50, target ₹69, stop loss ₹62.50.

Mahesh M Ojha's intraday stocks for today

5] Rico Auto: Buy at ₹93 to ₹94, targets ₹97, ₹101, ₹105 and ₹110, stop loss ₹86;

6] Imagicaaworld Entertainment: Buy at ₹75 to ₹76, targets ₹79, ₹82, ₹85 and ₹88; and

7] Morepen Laboratories: Buy at ₹87.50 to ₹88.50, targets ₹91, ₹94, ₹97 and ₹101, stop loss ₹83.50.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.