Experts advise purchasing six shares of small-cap stocks under ₹100 on Monday, December 30, 2024.

Experts suggest purchasing six shares of small-cap stocks under ₹100 on Monday: NHPC, Infibeam Avenues, Cupid, NACL Industries, MMTC, and Meghmani Organics.

Small-cap stocks to purchase under ₹100: The Nifty 50 index was unable to surpass the 200-DEMA barrier, which was set at 23,850, and the Indian stock market remained sideways during the week. The BSE Sensex concluded the final trading session of the shortened week 259 points higher at 78,732, the Bank Nifty index ended 162 points higher at 51,333, and the 50-stock index closed 82 points north at 23,832 on Friday.

The mid-cap and small-cap indices are still showing muted activity, as the Nifty Small-cap Index increased by 0.15% and the Nifty Mid-cap 100 Index decreased by 0.26%. For the ninth consecutive day, declining shares outnumbered advancing shares, with the advance-decline ratio on the BSE standing at 0.96. Nifty Pharma, Auto, and Healthcare saw the biggest gains among the sectors indices, while Nifty Metal, PSU Banks, and OIL/GAS had the worst losses.

prognosis for the stock market
"The short-term trend of the Nifty 50 index is slightly positive with range-bound action," stated Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, in reference to the market's prognosis. By next week, the market may run into significant overhead resistance between 24,000 and 24,200, and any increase up to the hurdles could be a sell-on-rise opportunity. Immediate support for Nifty today is at 23,650."

"Bank Nifty opened positively, showed buying interest in the first half, but later entered consolidation mode, closing marginally higher at 51,311," stated Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C Mehta, about the future for the Bank Nifty index. On the weekly chart, the index showed an inner bar candlestick pattern, and on the daily chart, it created a tiny green candle. The 100-Day Exponential Moving Average (100-DEMA) at 51,630 functions as resistance, while the 200-Day Simple Moving Average (200-DSMA), which is presently situated at 50,580, will provide strong support. Bank Nifty is anticipated to trade in the 50,550–51,650 range in the near future; its future course will be determined by a breakout in either direction.

When asked about the Indian stock market's future, Siddhartha Khemka, Head of Research—Wealth Management at Motilal Oswal, responded, "Markets are expected to be range-bound as long as there aren't any major triggers in the near future. The markets will be closely monitoring the pre-quarterly business updates, which will be released the first week of January 25 and will offer insights into the next results season.

Stocks under 100 naira
Stock market experts Sugandha Sachdeva, Founder of SS WealthStreet, Mahesh M. Ojha, AVP—Research at Hensex Securities, and Anshul Jain, Head of Research at Lakshmishree Investment and Services, were asked which small-cap stocks under ₹100 should be purchased. They suggested purchasing the following six shares on Monday: NHPC, Infibeam Avenues, Cupid, NACL Industries, MMTC, and Meghmani Organics.

Stocks of Sugandha Sachdeva to purchase

1] NHPC: Purchase at ₹80, aim for ₹84.50, and exit at ₹78.

2) Infibeam Avenues: Purchase at ₹26, aim for ₹28.40, and exit at ₹24.60.

MMTC: Purchase Mahesh M. Ojha's shares at ₹72 to ₹73, with goals of ₹77, ₹82, ₹85, and ₹88, and a stop loss of ₹68.

4] Meghmani Organics: Aim for 82, 85, 88, and 92; buy around 76 to 77.50; stop loss at 74.

5] Cupid: Purchase at ₹77.50, goal at ₹83.50, stop loss at ₹74.50, and Anshul Jain's stocks to purchase under ₹100

6] NACL Industries: Purchase at ₹65, set a target of ₹70, and exit at ₹63.