The Indian stock market wrapped up the week on a subdued note, ending its longest winning streak of the year amid rising geopolitical tensions between India and Pakistan. Reports of drone and missile activity along the border rattled investor confidence, triggering sharp sell-offs across key indices.
During the week, the BSE Sensex dropped by 1,047.52 points, registering a 1.30% decline, while the NSE Nifty 50 slipped 338.7 points, down by 1.39%. The heightened volatility reflects market participants’ growing concerns about regional instability and its potential economic fallout.
Technical analyst and Executive Director at Choice Broking, Sumeet Bagadia, shared his cautious outlook on the market’s near-term trajectory. “The Nifty has breached its 50-day exponential moving average (DEMA) and now finds key support near the 23,800 mark,” said Bagadia. He also highlighted resistance at around 23,400 on the upper side, suggesting investors adopt a stock-specific approach rather than betting on broader indices.
Despite the uncertain climate, Bagadia identified a few stocks trading under ₹100 that are showing bullish technical setups and could offer short-term opportunities:
Top Momentum Picks Below ₹100
- Silgo Retail (₹49.35):
A buy recommendation with a stop loss at ₹47.5 and an upside target of ₹53. The stock is showing strong momentum and could benefit from renewed interest in the retail sector. - Lotus Eye Hospital and Institute (₹73.34):
Bagadia suggests a momentum buy with a stop loss at ₹70.5 and a target of ₹78.5. The stock has been gaining traction amid increased focus on healthcare services. - Cupid (₹84.13):
Another recommended buy with a stop loss of ₹81 and a target price of ₹90. The company operates in the healthcare and personal wellness space, which continues to attract investor attention.
In current market conditions, analysts advise caution and selective buying. These under-₹100 stocks may offer potential for short-term gains, especially for investors seeking low-entry-price opportunities with favorable technical trends.