The Indian stock market experienced a session of ups and downs on Friday, with major indices showing slight gains despite the volatility. The Nifty 50 rose by 12 points, concluding at 24,346, while the BSE Sensex climbed 259 points to finish at 80,501. The Bank Nifty index also recorded a modest increase of 28 points, closing at 55,115. Sector-wise, gains were noted in media, energy, IT, and oil & gas, which rose between 0.3% and 0.7%. Conversely, sectors such as power, metal, telecom, pharma, real estate, and consumer durables faced declines ranging from 0.5% to 2%.

Market Insights and Expert Predictions

According to Siddhartha Khemka, Head of Research at Motilal Oswal Wealth Management, the market appears poised for consolidation with a generally positive outlook. He noted, “We anticipate stock-specific movements to dominate trading, although geopolitical tensions may introduce some volatility.” Key earnings reports expected include SBI, Kotak Mahindra, Avenue Supermarts, and CDSL on Saturday, while M&M, Indian Hotels, Coforge, and CAMS will reveal their Q4 results on Monday.

Technical Analysis of Nifty 50 and Bank Nifty

Nagaraj Shetti, a Senior Technical Research Analyst at HDFC Securities, provided insights on the Nifty 50, stating, “A decisive movement beyond the 24,500 to 24,600 range could pave the way for an upward trajectory towards 24,800 to 25,000. However, any downturn could find immediate support between 24,000 and 23,800.”

On the other hand, Dhupesh Dhameja, a Derivatives Research Analyst at SAMCO Securities, observed that the Bank Nifty is currently caught in a tug-of-war between bullish and bearish forces. “While the medium-term outlook remains positive as long as the index stays above 54,000–54,300, a breakthrough above 56,000 is essential for a more substantial rally. Conversely, slipping below 55,000 could signal a bearish trend, potentially leading to a quick drop towards the 54,300 mark. With increasing volatility and no clear leadership, it’s crucial for traders to be patient as the Nifty Bank prepares for its next major movement.”

Top Stock Picks Under ₹100

For those interested in diving into affordable stocks, several market experts have recommended a selection of shares under ₹100 to consider today:

• Commercial Syn Bags: Buy at ₹91.38, Target ₹98, Stop Loss ₹88.18.
• Lotus Eye Hospital: Buy at ₹81.49, Target ₹87.19, Stop Loss ₹78.63.
• Shiva Cement: Buy between ₹30.50 and ₹31, Targets ₹32, ₹34, ₹36, Stop Loss ₹28.80.
• Mukand: Buy at ₹98 to ₹99, Targets ₹102, ₹105, ₹110, Stop Loss ₹96.
• Paisalo Digital: Buy at ₹32.30, Target ₹34.30, Stop Loss ₹31.50.
• Restaurant Brands Asia (RBA): Buy at ₹83, Target ₹88, Stop Loss ₹81.

These recommendations come from various industry experts, including Sumeet Bagadia of Choice Broking and Mahesh M Ojha of Hensex Securities, ensuring a diverse range of stock choices for investors looking to make strategic moves in the market today.

For more insights on stock market trends and updates, check out our investment strategies page and stay informed.