Stocks to buy under ₹200: The Indian stock markets remained in a consolidation phase during the holiday-shortened week, with thin volumes and muted participation due to year-end positioning and the Christmas holiday. The Nifty 50 index traded range-bound between 26,000 and 26,200, facing pressure from IT and financial stocks, while broader markets showed relative strength with selective buying in metals, defence, and railway stocks. Volatility remained low, with key supports near 26,000 holding firm. Despite foreign outflows, the primary uptrend remains intact, as the Nifty ended the week near 26,045, amid cautious optimism ahead of the earnings season.
Stock market next week
Mehul Kothari, Deputy Vice President of Technical Research at Anand Rathi, believes the primary uptrend remains intact as the Nifty 50 index finished near 26,045 amid cautious optimism ahead of the earnings season. Mehul Kothari of Anand Rathi said that a fresh rally is expected only on a decisive breakout above 26,300.
Speaking on the outlook of the Nifty 50 index, Mehul Kothari of Anand Rathi said, “The Indian stock market opened with a gap-up on Monday in the truncated week, with NIFTY moving towards the 26,250 zone but failing to take out the 26,300 resistance. With the gap now largely filled, below 26,000 NIFTY may drift towards 25,700, which emerges as a crucial support level. A fresh rally is expected only on a decisive breakout above 26,300. The positive takeaway remains that, in line with our view, the broader markets have bounced back strongly and are likely to continue showing relative outperformance. Hence, traders should focus on stock-specific opportunities, particularly in quality broader market names, while keeping index positions light until a clear directional breakout emerges.”
On the outlook of the Bank Nifty index, Mehul Kothari said, "Bank Nifty continued to remain directionless during the week, largely oscillating within a narrow 59,500–58,900 range, reflecting a lack of fresh triggers and muted participation. The index remains capped near the falling trendline resistance around 59,800–60,000, while repeated failures to sustain above 59,500 indicate the absence of follow-through buying. On the downside, the 58,900–58,500 zone continues to act as an immediate support, and a breakdown below this range could open the doors towards 58,000."
The Anand Rathi expert stated that, overall, the Bank Nifty continues to underperform the Nifty and remains stuck in a range-bound structure, with a decisive move expected only on a breakout above 60,000–60,500 or a breakdown below 58,500.
Mehul Kothari's stock recommendations today
Regarding stocks to buy or sell on Monday, Mehul Kothari of Anand Rathi recommended these three shares to buy: Lemon Tree Hotels, NBCC India, and SAIL.
1] Lemon Tree Hotels: Buy at ₹161.50, Target ₹170.50, Stop Loss ₹157;
2] NBCC India: Buy at ₹122 to ₹119 range, Target ₹130 to ₹134, Stop Loss ₹115; and
3] SAIL: Buy at ₹132 to ₹130 range, Target ₹145, Stop Loss ₹124.
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.
