Stocks to buy under ₹100: Following positive sentiments after US President Donald Trump declared a 90-day pause in the US tariffs recently imposed on its trade partners, the Indian stock market skyrocketed on Friday. The Nifty 50 index opened upside at 22,695 and closed at 22,828, recording an intraday rise of 429 points. The BSE Sensex opened upside at 74,835 and closed at 75,157, logging an intraday 1310-point rally during the intraday trading session on Friday. Likewise, Bank Nifty today had a gap-up opening at 50,634, and the banking index closed at 50,995, logging over 750 points gain during Friday dealings.
Stock market strategy
Mehul Kothari, Deputy Vice President — Technical Research at Anand Rathi, believes the Indian stock market shows potential strength after a strong rebound on Dalal Street. However, Mehul Kothari of Anand Rathi maintained the Nifty 50 index is facing a hurdle at 23,000, and one can assume a bull trend only on the breakage of this resistance.
Speaking on the outlook of the Nifty 50 index, Mehul Kothari of Anand Rathi said, “The past week began with a sharp decline on “Black Monday,” as Nifty opened with a significant gap down of nearly 1,146 points. However, bulls regained control later in the week, helping the index recover around 1,100 points. Despite this strong rebound, Nifty ended the week with a minor loss of -0.33%. The daily chart remains below the 21, 50, 100, and 200 DEMA levels, indicating caution. Positively, on the weekly chart, Nifty has rebounded from the 100 EMA, suggesting potential strength. Additionally, the RSI on the weekly timeframe shows a hidden bullish divergence, pointing towards possible positive sessions ahead. For the trading session 15-April-2025, the 22,900–22,750 zone is crucial per Camarilla pivots, and traders should watch it closely.”
Anand Rathi said that the Nifty today is facing a hurdle at 23,000 while it has made crucial support at 22,500.
Asked about the Bank Nifty outlook, Mehul Kothari said, “After Black Monday, the Bank Nifty index recovered nearly 1,700 points as bulls fought back strongly on Friday. Despite this rebound, it closed the week with a loss of around one per cent. Technically, the index remains above the 21, 50, 100, and 200 DEMA, suggesting underlying strength. For the 15-April-2025 session, the 50,800 to 51,200 zone is key as per Camarilla pivots, and traders should monitor this range for directional cues.”
Kothari said that Bank Nifty today faces immediate resistance at 51,300, where selling pressure may emerge, while 50,600 serves as a crucial support zone.
Stocks to buy under ₹100
Regarding stocks to buy under 100, Mehul Kothari of Anand Rathi recommended these three intraday stocks for Tuesday: NTPC Green Energy, Shree Renuka Sugars, and SJVN.
1] NTPC Green Energy: Buy at ₹94 to ₹95, Target ₹106, Stop Loss ₹88;
2] Shree Renuka Sugars: Buy at ₹26 to ₹27, Target ₹32, Stop Loss ₹24; and
3] SJVN: Buy at ₹91 to ₹92, Target ₹102, Stop Loss ₹86.
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, consider individual risk tolerance, and conduct thorough research before making investment decisions, as market conditions can change rapidly, and individual circumstances may vary.
