Stocks to buy under ₹200: Nifty 50 to Sensex — Mehul Kothari of Anand Rathi recommends three shares to buy or sell

Stocks to buy under ₹200: The Indian stock market witnessed sharp volatility during January 19 - 23, 2026, and ended the week significantly lower. The week started with heavy selling, dragging the Nifty 50 index close to 25,000 and the Sensex below 81,500, followed by a brief mid-week rebound in which the Nifty recovered to around 25,290 and the Sensex moved above 82,300. However, the recovery was short-lived, and selling pressure returned, pushing Nifty back near 25,050 and Sensex to around 81,540 by the end of the week.

The stock market crash was driven by persistent FII outflows, weak Q3 earnings trends—especially in IT and consumption sectors—continued rupee weakness, and lingering global trade-related uncertainties, which collectively outweighed intermittent positive global cues and kept sentiment firmly risk-averse.

Stock market outlook

Mehul Kothari, Deputy Vice President — Technical Research at Anand Rathi, believes the Indian stock market sentiment is cautious to negative. The Anand Rathi expert said the Nifty 50 index has closed near the crucial support placed at 24,900. On a decisive breakdown below this support, the next demand zone for the 50-stock index emerges at the 24,500 to 24,400 band.

Nifty 50 today

Speaking on the outlook of the Nifty 50 index, Mehul Kothari of Anand Rathi, said, “After last week’s failed breakout and range-bound consolidation, the market saw a clear breakdown in structure during the current week, with Nifty decisively breaching the 25,400 support and slipping below the psychological 25,000 mark towards the 24,900 zone. At this stage, there remains a possibility of a retest of 24,900 or a marginal break below it, which could help complete the ongoing corrective phase. If the index does not stabilise around 24,800, the previous base near 24,500–24,400 emerges as the next major demand zone, although the probability of such an extended decline appears relatively low.”

Mehul Kothari of Anand Rathi said that once a fresh low is formed, the market is expected to move into a base-building phase, even if broader markets witness a slightly extended but likely final leg of decline. A recovery towards 25,400 may follow, while a sustainable bottom will be confirmed only on a decisive move back above 25,400. Traders are advised to stay cautious, avoid aggressive bottom-fishing, and wait for clear confirmation before taking fresh directional positions.

Bank Nifty today

On the outlook of the Bank Nifty index, Mehul Kothari said, “The Bank Nifty index saw a clear escalation in selling pressure during the week, with the index breaking below the earlier 59,000 support and forming a fresh low near 58,300, confirming weakness beyond last week’s cautious setup. The breakdown indicates that the recovery towards 60,000 seen earlier failed to sustain, leading to further unwinding. At current levels, the index may drift lower towards the 57,800 zone, which emerges as the next important support area and where signs of short-term stability could start to develop.”

“On the upside, any rebound is likely to face immediate resistance in the 59,000–59,600 zone, which could act as a strong supply area during pullbacks. Overall, Bank Nifty remains in a cautious phase, with traders advised to stay selective, avoid aggressive long positions until stability is visible, and closely track price behaviour around the lower support zone for clearer directional cues,” Mehul Kothari of Anand Rathi said.

Mehul Kothari's stock recommendations today

Regarding stocks to buy or sell, Mehul Kothari recommended these three shares to buy on Monday — IDBI Bank, IFCI, and Bank of India.

1] IDBI Bank: Buy at ₹95, Target ₹105, Stop Loss ₹88.50;

2] IFCI: Buy at ₹55, Target ₹65, Stop Loss ₹48.50; and

3] Bank of India: Buy at ₹155, Targets ₹168 and ₹175, Stop Loss ₹143.

Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.