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

Stocks to buy under ₹200: During the week ending April 24, 2026, the Indian stock markets witnessed volatile movements, with the Nifty 50 declining around 2%, broadly in line with our view, amid the escalating tension in the US-Iran war, rising crude oil prices above 100 dollars per barrel, and the start of the Q4 earnings season.

The week began on a firm note, supported by positive global cues and hopes of diplomatic progress, pushing the Nifty above 24,500 mid-week. However, sentiment turned cautious later as crude prices firmed, IT stocks faced pressure following mixed earnings, and a broader risk-off environment emerged. This led to sharp declines, with the Nifty slipping below 24,000 during the week. Overall, the stock market saw a mix of an early relief rally followed by pressure from elevated energy costs and foreign outflows, while mid- and small-cap stocks showed relative resilience.

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Mehul Kothari, Deputy Vice President — Technical Research at Anand Rathi, believes the ongoing move signals a healthy pullback within a broader uptrend, rather than a structural breakdown. The Anand Rathi expert said the Nifty 50 index may bounce back strongly from the 23,600 to 23,500 range, and come close to the recent high of 24,600.

Speaking on the outlook for the Nifty 50 index, Mehul Kothari of Anand Rathi said, "The 50-stock index, after staging a strong rally in the previous phase, recently tested a high near the 24,600 mark before witnessing a sharp pullback towards the 23,800 zone, indicating the emergence of profit booking near resistance levels." The index is now gradually approaching the 23,600–23,500 support zone, which is likely to act as a crucial demand area in the near term. At this stage, it remains uncertain whether the market will sustain above these support levels, as price action around this zone will be critical in determining the short-term direction.

“However, the ongoing move appears to be a healthy pullback within a broader uptrend, rather than a structural breakdown. Once this corrective phase stabilises, the broader trend is expected to resume on the upside, with the index likely to retest the recent high of 24,600, and eventually move towards the 25,000 mark,” Kothari added.

On the outlook of the Bank Nifty today, Mehul Kothari said, the index, after witnessing a recovery in the previous phase, faced resistance around the 61.8% retracement zone of 57,200–57,500, where it showed clear signs of rejection, indicating supply at higher levels. Following this, the index drifted lower and even slipped below 56,000, confirming short-term weakness and the continuation of the pullback. Going ahead, the index is expected to find support around the 54,500 zone, which remains a crucial demand area.

“Price action near this level will be important to watch for signs of stabilisation. Once this corrective phase concludes, the broader structure suggests a potential recovery, with the index likely to move back towards 57,500 and potentially break above it in the subsequent phase,” Kothari added.

Mehul Kothari's stock recommendations today under ₹200

Regarding stocks to buy under ₹200, Mehul Kothari recommended these three short-term picks: ABFRL, Canara Bank, and Wipro.

1] ABFRL: Buy around ₹60, Target ₹66, Stop Loss ₹57;

2] Canara Bank: Buy around ₹137, Target ₹150, Stop Loss ₹131; and

3] Wipro: Buy around ₹197, Target ₹218, Stop Loss ₹188.

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.