Stocks to Buy or Sell: Experts Recommend Four Shares Under ₹100 — 24 Feb 2025
Stocks to Buy or Sell : The Indian stock market faced a downturn for the fourth consecutive session on Friday, influenced by weak global market cues. The Nifty 50 index closed 117 points lower at 22,795, while the BSE Sensex shed 424 points, settling at 75,311. The Bank Nifty index also lost 353 points, closing at 48,981.
Market performance was largely negative, with the Nifty Metal Index being the only gainer. The Auto, Healthcare, Pharma, and Realty sectors saw major declines. Broader markets also struggled, with the Nifty Midcap 100 and Small-cap indices losing 1.32% and 0.7%, respectively.
Stock Market Outlook
Market sentiment remains cautious as the Nifty 50 index struggles to hold key support levels. Shiju Koothupalakkal, Senior Manager — Technical Research at Prabhudas Lilladher, emphasized that Nifty is currently at a crucial juncture.
- If Nifty falls below 22,800, the next major support level is at 22,500.
- A break above 23,000 could indicate a positive reversal.
For Bank Nifty, analysts warn of further downside risks. If the index falls below 48,500, it may trigger additional selling, pushing it towards 47,800. However, a recovery above 49,700 could improve sentiment.
Stocks to Buy or Sell Under ₹100
Despite the market weakness, experts have identified four stocks under ₹100 that could present trading opportunities for Monday.
1. SJVN (Satluj Jal Vidyut Nigam) – Buy
- Entry Price: ₹91 to ₹92.50
- Targets: ₹96, ₹98, ₹100+
- Stop Loss: ₹88
- Analysis: SJVN has shown resilience despite market volatility. Given its strong fundamentals and increasing demand for renewable energy, the stock could witness an uptrend.
2. IDFC First Bank – Buy
- Entry Price: ₹59 to ₹61
- Targets: ₹64, ₹67, ₹70
- Stop Loss: ₹56
- Analysis: IDFC First Bank has been performing well in terms of asset quality and profitability. The current levels provide a good opportunity for investors looking for banking sector exposure.
3. Zee Entertainment Enterprises Ltd (ZEEL) – Sell
- Entry Price: ₹99
- Target: ₹96.20
- Stop Loss: ₹101
- Analysis: ZEEL has been facing selling pressure due to ongoing corporate governance concerns. A bearish trend is visible, making it a suitable shorting opportunity for traders.
4. International Conveyors – Buy
- Entry Price: ₹68.50
- Target: ₹74.50
- Stop Loss: ₹66.50
- Analysis: International Conveyors, a key player in conveyor belt manufacturing, has seen strong demand in industrial applications. A breakout above ₹70 could lead to further upside.
Financial Ratios of Recommended Stocks
| Stock | Current Price (₹) | Target Price (₹) | Stop Loss (₹) | P/E Ratio | EPS (₹) | ROE (%) | Market Cap (₹ Cr) |
|---|---|---|---|---|---|---|---|
| SJVN | 92 | 100+ | 88 | 18.2 | 5.1 | 12.5 | 36,500 |
| IDFC First Bank | 60 | 70 | 56 | 14.8 | 4.3 | 10.2 | 49,200 |
| ZEEL | 99 | 96.20 | 101 | 22.5 | 6.2 | 8.5 | 9,800 |
| International Conveyors | 68.50 | 74.50 | 66.50 | 16.1 | 3.8 | 14.0 | 720 |
Conclusion
The stock market is currently under pressure, but selective stock-picking can still offer opportunities. Investors should remain cautious, follow stop-loss levels strictly, and keep an eye on global market trends. While SJVN, IDFC First Bank, and International Conveyors present buying opportunities, ZEEL appears weak and may be suitable for shorting.
For long-term investors, focusing on fundamentally strong stocks with growth potential remains the key to navigating volatile market conditions.
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Disclaimer: This blog post is for informational purposes only and should not be considered financial advice. Investors should conduct thorough research and consult with a qualified financial advisor before making any investment decisions.