Intraday stocks for today under ₹100: Experts recommend 5 shares to buy today — Dec 5 | Stock Market News

Intraday stocks for today under ₹100: Indian stock market benchmarks – the Sensex and the Nifty 50– ended with minor gains in the previous session on Wednesday, December 4, thanks to gains in shares of select heavyweights, including HDFC Bank, ICICI Bank and TCS. Both the key indices extended their gaining streak into the fourth consecutive session. The Nifty 50 stayed above 24,450, closing the day at 24,467.45, but it was off over 100 points from an intraday high of 24,573.20 due to profit booking at higher levels. Meanwhile, NSE data showed that foreign portfolio investors (FPIs) bought Indian equities worth ₹1,797.60 while their Indian counterparts, domestic institutional investors (DIIs), offloaded Indian stocks worth ₹900.62 crore on Wednesday.

Stock market today

While the market may continue witnessing bouts of volatility due to domestic and global factors, experts see the overall market structure as positive. The focus now is on the outcome of the Reserve Bank of India’s (RBI) three-day Monetary Policy Committee (MPC) meeting on Friday, December 6. Most banking stocks are gaining on expectations that the central bank will cut the CRR (cash reserve ratio) for them, which will boost their profitability.

Sugandha Sachdeva, the founder of SS WealthStteet, underscored that despite volatility in the previous session, the Nifty 50 displayed resilience by holding above the previous resistance-turned-support of 24,350, eventually edging higher. However, advances were tempered by weakness in select heavyweights and auto stocks.

On the economic front, Sachdeva observed India’s composite PMI (covering both manufacturing and services) eased slightly to 58.60 in November, down from 59.10 in October, but continued to indicate robust expansion. Additionally, seven out of 13 sectoral indices closed in the green, reflecting improving market breadth.

Crude oil prices declined, while Fed Chair Jerome Powell struck a cautious yet dovish tone in his final address before the year-end meeting. He emphasised the resilience of the US economy, citing a robust labour market and slightly elevated inflation. However, he did not rule out the possibility of a rate cut at the upcoming December meeting, with the odds of a cut rising to 79 per cent, up from 75.5 per cent a day earlier.

In the near term, Sachdeva expects the Nifty 50 to maintain a positive undertone, supported by encouraging global and domestic cues.

“A buy-on-dips approach remains prudent, with immediate resistance at the 24,550–24,600 zone. A convincing breakout above this range could drive the index higher towards 24,750 and subsequently to the 25,000 mark in the coming days,” said Sachdeva.

Intraday stocks for today

When discussing intraday stocks to buy today, stock market experts Mahesh M Ojha, AVP of Research at Hensex Securities and Sugandha Sachdeva of SS WealthStreet, recommended buying these five shares: Bank of Maharashtra, NBCC, IDBI Bank, Dhani Services and Imagica World.

Mahesh M Ojha’s shares to buy today

[1] Bank of Maharashtra | Buy at ₹58 to ₹59 | Target price: ₹62, ₹65, ₹68, ₹75 | Stop loss: ₹53.5.

[2] NBCC | Buy at ₹99 to ₹100 | Target price: ₹104, ₹110, ₹115, ₹120 | Stop loss: ₹94.

[3] IDBI Bank | Buy at ₹86 to ₹87 | Target price: ₹91, ₹94, ₹100 | Stop loss: ₹83.

Sugandha Sachdeva’s stocks to buy today

[4] Dhani Services | Buy at ₹63.30 | Target price: ₹67 | Stop loss: ₹61.20.

[5] Imagica World | Buy at ₹84 | Target price: ₹91.40 | Stop loss: ₹79.50.

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Disclaimer: The views and recommendations above are those of individual analysts, experts, and brokerage firms, not Mint. We advise investors to consult certified experts before making any investment decisions.