Stocks to buy or sell: Experts unveil Nifty 50, Sensex outlook, pick six intraday stocks for today under ₹100

Stocks to buy or sell: The topsy-turvy trend continued in the Indian stock market as frontline indices — Nifty 50 and BSE Sensex bounced back strongly after correcting nearly 0.50 per cent against their respective Friday's closings. This could become possible after strong buying in metals, realty, and IT stocks in the second half of Monday's session. The Nifty 50 index ended marginally lower at 22,119, the BSE Sensex went off 112 points and closed at 73,085, while the Nifty Bank index finished 230 points lower at 48,114. Cash market volumes on the NSE were 2% lower than February's average. The Mid-cap and the Smallcap indices rebounded sharply from intraday lows alongside the Nifty. The Nifty Midcap 100 Index recovered more than 2% from its intraday low to finish with gains of 0.14%, while the Nifty Smallcap 100 Index bounced 2.5% from its low to close with minimal losses of 0.27%. Declining stocks outnumbered advancing ones for the sixth consecutive day, with the advance-decline ratio on BSE at 0.44. Among sectors, Nifty Realty, Metal, Consumer Durables, and IT emerged as major gainers, while Nifty Media, Oil/Gas, and Bank experienced the steepest declines.

Stock market today

Speaking on the outlook for the Indian stock market today, Siddhartha Khemka, Head of Research — Wealth Management at Motilal Oswal, said, "We expect the market to remain flat to negative on account of mixed global cues and lack of domestic triggers."

On the outlook for the Nifty 50 today, Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, said, "Though Nifty showed minor upside recovery from the lows, the underlying trend remains negative. Any upside bounces from here could encounter resistance around 22300 levels. A decisive move above 22500 levels could confirm a short-term bottom reversal in the Nifty. On the other side, further below 22,000 levels could find next support around the 21800-21700 band."

Asked about the Bank Nifty's outlook today, Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment said, “The Bank Nifty index formed a red candle on the daily chart, indicating weakness. However, the index has reversed from the previous demand zone of 47,840, making it an essential support, while on the upside, 49,000 will remain a difficult barrier for the index. Traders should actively monitor these levels for possible trading opportunities.”

Intraday stocks for today under ₹100

Regarding stocks to buy or sell under ₹100, market experts — Sumeet Bagadia, Executive Director at Choice Broking; 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 for today: Commercial Syn Bags, Mangalam Global Enterprise, NBCC, Bank of Maharashtra, NMDC, and PNB.

Sumeet Bagadia's stock recommendations today

1] Commercial Syn Bags: Buy at ₹78.65, target ₹84, stop loss ₹75.50; and

2] Mangalam Global Enterprise: Buy at ₹28.52, target ₹31.50, stop loss ₹27.60.

Mahesh M Ojha's share to buy under ₹100

3] NBCC: Buy at ₹72.50 to ₹73.50, targets ₹76, ₹78, ₹80, and ₹82, stop loss ₹69.80.

4] Bank of Maharashtra: Buy at ₹44 to ₹44.75, targets ₹45.80, ₹47, and ₹48, stop loss ₹41.80.

Anshul Jain's stock to buy under ₹100

5] NMDC: Buy at ₹63, target ₹68, stop loss ₹61.

Sugandha Sachdeva's buy or sell stock

6] PNB: Sell at ₹88, target ₹85, stop loss ₹89.70.

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.