Best stocks to buy under ₹100: Lloyds Engineering, Niva Bupa, Vedanta Power by Sumeet Bagadia | Targets, stop-loss
A hotter-than-expected U.S. CPI print cemented bets on a December Fed hike, while hawkish Fed remarks pushed global yields higher. At home, retail inflation jumped to a two-year high, breaching the RBI's upper tolerance limit as food prices surged. Fears of further tightening snapped a three-session winning run at the end of the week.
Sumeet Bagadia, Executive Director at Choice Broking, believes the bias for the Indian stock market is positive until the Nifty 50 index is above 25,000. The Choice Broking expert said that the daily candle reflects profit booking near higher levels, but the 25,000 support for the Nifty 50 index may remain sacrosanct.
On the outlook for the Nifty 50 index, Sumeet Bagadia said the 50-stock index has immediate support at 25,000–25,080, while resistance remains at 25,250–25,400. RSI stands at 75.22, above its average of 66.75, indicating that momentum remains strong but stretched.
“Monthly PCR at 1.13 suggests a constructive derivatives setup, while India VIX declined 5.07% to 15.7750, indicating easing volatility. The index may witness further consolidation after its sharp rally, with sustained holding above 25,000 being important to preserve the positive broader structure,” the Choice Broking expert said.
On the outlook for the Bank Nifty index, Sumeet Bagadia said the key benchmark index has immediate support at 60,400–60,750, while resistance is placed at 61,300–61,500. RSI remains elevated at 75.70, above its average of 60.91, highlighting strong underlying momentum despite the latest decline.
“The lower shadow on the daily candle indicates some buying interest at lower levels; however, the index needs to reclaim the resistance zone to regain upward traction. Until then, consolidation and intermittent profit booking may continue,” he added.
Regarding stocks to buy under ₹100, Sumeet Bagadia of Choice Broking recommended buying these three shares: Lloyds Engineering, Niva Bupa, and Vedanta Power.
1] Lloyds Engineering: Buy at ₹89.25 | Target ₹98 | Stop-loss ₹85;
2] Niva Bupa: Buy at ₹78.77 | Target ₹86 | Stop-loss ₹75; and
3] Vedanta Power: Buy at ₹34.92 | Target ₹38.50 | Stop-loss ₹33.
Asit Manohar has nearly two decades of experience in the mainstream media. In this period, he has served esteemed media organisations like NDTV Profit, The Economic Times, and Zee Business. He has been working at LiveMint Digital since April 2021. During these two decades of journey in mainstream media, Asit has mainly covered external affairs, markets and personal finance. However, his earliest beats include railways, SME, MSME, and politics (Congress beat). Some of his features on political, economic, and foreign policy are documented in the parliamentary records. <br><br> While pursuing his MA (Mass Communication, Session 2004-06), Asit began his media career as a stringer at All India Radio in Varanasi. At AIR Varanasi, Asit worked with the Gyanvani, Yuvvani and Vividh Bharti teams. After working for nearly one year at AIR Varanasi, he shifted to print journalism and started working as a stringer for the HT Media Ltd, Varanasi. At HT Media Ltd in Varanasi, he covered the BHU beat. <br><br> Asit has also worked with some brokerage houses. He has worked with Religare Broking and India Infoline, where he assisted the research team in developing and executing trade strategies for intraday cash, F&O, and commodities. <br><br> Asit is a Gold Medalist in MA (Mass Communication) from BHU, Varanasi. He did his BSc. (Hons) in Mathematics from Magadh University, Bodh Gaya. Asit was a National Talent Scholarship holder during his senior secondary studies (1988-91).
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HomeMarketsStock MarketsBest stocks to buy under ₹100: Lloyds Engineering, Niva Bupa, Vedanta Power by Sumeet Bagadia | Targets, stop-loss
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