Stocks to buy under ₹100: Sumeet Bagadia recommends three stocks to buy on Monday - 12 January 2025

Key Highlights

• According to Sumeet Bagadia, Executive Director at Choice Broking, Nifty 50, the Nifty 50 opened on a weak note and extended its decline throughout the session, indicating persistent selling pressure and bearish sentiment.
• The index briefly breached the key support level of 25,800 and confirmed a decisive breakdown below this zone, eventually closing at 25683, which reinforces the short-term bearish bias and weakening market structure.
• " Immediate resistance is placed in the 25,800–25,850 zone, while crucial support is located at 25,500–25,550. On the momentum front, the daily RSI stands at 38.55 and continues to trend lower, reflecting deteriorating momentum and lack of buying strength.
• India VIX edged up by 3.07 percent to 10.92, suggesting a marginal pickup in volatility and cautious market sentiment.
• Derivatives data indicates heavy call writing along with strong put accumulation at the 25,800 strike, establishing this level as a key pivot and near-term hurdle for the index.