Top 4 Intraday Stocks Under 100 to Watch Today: Expert Picks and Analysis
Top 4 Intraday Stocks Under 100 : The Indian stock market witnessed a sharp decline for the fourth consecutive session on Friday, tracking weak global sentiments. The Nifty 50 index closed 117 points lower at 22,795, while the BSE Sensex fell 424 points to 75,311. The Bank Nifty index also lost ground, shedding 353 points to end at 48,981. Sectoral indices reflected a bearish trend, with most sectors closing in the red, except for Nifty Metal, which managed to stay positive. The Nifty Midcap 100 and Small-cap indices faced sharp volatility, closing 1.32% and 0.7% lower, respectively.
Amidst market uncertainty, experts have identified four stocks under ₹100 that could present intraday trading opportunities. Let’s delve into the recommendations and their potential movements.
Stock Market Outlook
According to Siddhartha Khemka, Head of Research at Motilal Oswal, the Nifty 50 is expected to remain in a consolidation phase, influenced by global market trends, US trade policies, and geopolitical tensions surrounding the Russia-Ukraine conflict.
Technical expert Nagaraj Shetti of HDFC Securities noted that the Nifty 50 remains choppy, with crucial support at 22,700. A breakdown below this level could push the index toward 22,450, while resistance is seen in the 23,000–23,100 range.
For Bank Nifty, Hrishikesh Yedve, AVP at Asit C. Mehta, highlighted that the index is consolidating between 48,500 and 49,650. A breakout from this range will determine its next directional move.
Top Intraday Stock Picks Under ₹100
Market experts have identified four stocks—JP Power, NMDC, Kothari Products, and Suzlon Energy—for intraday trading. Here’s a closer look at these stocks and their trading strategies.
1. JP Power (JP Power Ventures Ltd.)
- Buy Range: ₹13.60 – ₹13.85
- Target Prices: ₹14.25, ₹14.60, ₹15, ₹15.50
- Stop Loss: Below ₹13.20
- Expert: Mahesh M Ojha, AVP – Research at Hensex Securities
Analysis: JP Power has shown positive momentum in recent sessions, making it an attractive buy candidate. A move above ₹14.25 could trigger further upside.
2. NMDC Ltd.
- Buy Range: ₹66 – ₹67.50
- Target Prices: ₹68.50, ₹70, ₹72
- Expert: Mahesh M Ojha, AVP – Research at Hensex Securities
Analysis: NMDC is a government-backed company in the mining sector, benefiting from strong demand for raw materials. If the stock maintains above ₹67.50, it could reach the ₹72 level in the short term.
3. Kothari Products Ltd.
- Sell Price: ₹84.60
- Target Price: ₹81.20
- Stop Loss: ₹86.80
- Expert: Sugandha Sachdeva, Founder of SS WealthStreet
Analysis: Kothari Products is witnessing selling pressure, making it a potential short trade. A breakdown below ₹84 could accelerate the decline toward ₹81.20.
4. Suzlon Energy Ltd.
- Buy Price: ₹54
- Target Price: ₹58
- Stop Loss: ₹52
- Expert: Anshul Jain, Head of Research at Lakshmishree Investment and Securities
Analysis: Suzlon Energy has been in an uptrend due to the renewable energy boom. If the stock holds above ₹54, it may see an upside move toward ₹58.
Stock Financial Ratios Comparison
| Stock | Current Price (₹) | P/E Ratio | P/B Ratio | ROE (%) | Debt-to-Equity |
|---|---|---|---|---|---|
| JP Power | 13.75 | 15.2 | 1.1 | 6.5 | 1.9 |
| NMDC | 67.20 | 8.5 | 1.8 | 14.3 | 0.1 |
| Kothari Products | 84.60 | 12.7 | 0.9 | 8.2 | 0.3 |
| Suzlon Energy | 54.00 | 20.1 | 3.2 | 5.4 | 2.1 |
Final Thoughts
The Indian stock market remains volatile, with traders looking for short-term opportunities in intraday trading. The four recommended stocks—JP Power, NMDC, Kothari Products, and Suzlon Energy—offer potential trades with defined entry, exit, and stop-loss levels.
Key Takeaways:
✔ JP Power and NMDC look strong on the buy side.
✔ Kothari Products shows bearish signals, making it a good sell candidate.
✔ Suzlon Energy has the potential to gain on renewed interest in renewable energy stocks.
Traders should keep a close eye on support and resistance levels and follow strict risk management while executing these trades. Happy trading! 🚀
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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.