Stocks to Consider Below ₹100: Sumeet Bagadia Identifies Three Potential Buys for April 27, 2026
Indian Stock Market Faces Subdued Session
The Indian stock market experienced a subdued session on Friday, April 24, with benchmark indices declining for the third straight day, weighed down by widespread selling in technology stocks. Investor sentiment remained cautious globally as renewed tensions in the Middle East kept crude oil prices elevated, fuelling fresh concerns over inflation.
As a result, the Nifty dropped 1.10% to slip below the 24,000 level and close at 23,907, while the S&P BSE Sensex fell 1.28% to finish at 76,670 compared to Thursday's close.
Market Performance
| Index | Opening Price | Closing Price | Change |
|---|---|---|---|
| Nifty 50 | 24,100.55 | 23,897.95 | -1.10% |
| S&P BSE Sensex | - | 76,670 | -1.28% |
The Nifty 50 opened with a gap-down at 24,100.55 and witnessed selling pressure throughout the session. The index marked its intraday high of 24,206.00 in the initial minutes of trade, followed by a steady decline, leading to an intraday low of 23,813.65. The index eventually closed at 23,897.95, indicating a weak session with sustained selling bias.
According to Sumeet Bagadia, Executive Director at Choice Broking, the Nifty 50's daily timeframe shows a bearish candlestick pattern, reflecting continued selling pressure and weak market sentiment. Immediate support is placed in the 23,650-23,700 range, while resistance is observed between 24,050 and 24,150 levels. The Relative Strength Index (RSI) stands at 49.21, slipping below the midpoint of 50, indicating weakening momentum and a shift towards a negative bias.
Bank Nifty Performance
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The Bank Nifty index opened with a gap-down at 56,170.20 and traded with volatility on both sides during the session. It recorded an intraday high of 56,460.50 in the first half, followed by a decline to an intraday low of 55,750.40 in the latter half. The index eventually closed at 56,089.75, ending near its opening level.
Bagadia noted that on the daily timeframe, the formation of a Doji candlestick pattern indicates indecision among market participants, reflecting a balance between buyers and sellers. Immediate support is placed in the 55,750-55,850 range, while resistance is seen in the 56,300-56,400 zone. The Relative Strength Index (RSI) stands at 52.27, holding slightly above the midpoint level of 50, indicating a neutral to mildly positive undertone.
Stocks to Buy
Sumeet Bagadia has recommended three stocks to buy on Monday, April 27:
- IDBI Bank: Buy at ₹76.17 | Target Price: ₹83.45 | Stop Loss: ₹72.15
- Lloyds Enterprises: Buy at ₹67.53 | Target Price: ₹73.90 | Stop Loss: ₹64.20
- NMDC: Buy at ₹89.29 | Target Price: ₹95 | Stop Loss: ₹86
Investor Takeaway
Investors should be cautious and consider selling technology stocks due to renewed tensions in the Middle East.
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