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

Stocks to buy under ₹200: The Indian stock market witnessed a weak and range-bound week, with the Nifty 50 falling around 0.8% to 24,366 and the Sensex declining nearly 0.6% to around 78,000, snapping a two-week winning streak. The market remained in consolidation within the 23,800–24,400 range, as US-Iran tensions, volatile crude oil prices and global yield uncertainty weighed on sentiment, while strong Q1 FY27 earnings offered some support.

Mid- and small-caps also declined, with metals, pharma and auto underperforming, while consumer durables outperformed. With India VIX near 11.3, volatility remained subdued, and markets continued to trade cautiously.

Stock market outlook

Mehul Kothari, Deputy Vice President — Technical Research at Anand Rathi, believes the ongoing pullback is a healthy retracement rather than a reversal of the broader uptrend. Mehul Kothari of Anand Rathi said the Nifty 50 has major support at 24,190-24,054, which may remain sacrosanct.

Speaking on the outlook for the Nifty 50 index, Mehul Kothari said the broader market structure remains constructive. Nifty 50 has retraced towards the 50% Fibonacci retracement level of 24,190, and any further correction towards the 50%–61.8% retracement zone of 24,190–24,054 should be viewed as a buying opportunity, as we believe this is the maximum downside likely in the current corrective phase.

“We maintain our bullish stance and expect the index to regain momentum on a sustained move above 24,500, which could gradually pave the way towards 25,000 and higher levels in the coming weeks. As long as the 24,050–24,190 zone holds, dips should continue to be used to build fresh positions,” said Kothari.

On the outlook of the Bank Nifty index, the Anand Rathi expert said, the key benchmark index remained in a consolidation phase during the week and is currently forming a symmetrical triangle pattern, indicating a potential breakout on either side. A sustained move above 58,000 is likely to trigger fresh buying momentum and could lead to a rally towards 59,000–59,500 in the coming sessions.

“On the downside, the 57,000 level, which coincides with the rising trendline support, remains crucial. A decisive breach of this support could extend the ongoing consolidation and keep the index under pressure. We maintain a cautiously bullish stance as long as the broader structure remains intact,” said Mehul Kothari of Anand Rathi.

Mehul Kothari's stock recommendations

Regarding stocks to buy on Monday, Mehul Kothari of Anand Rathi recommended these three buy-or-sell stocks: IRB Infra, MMTC, and CESC.

1] IRB Infra: Buy above ₹19.50, Target ₹21, Stop Loss ₹18.80;

2] MMTC: Buy above ₹65, Target ₹68, Stop Loss ₹63.30;

3] CESC: Buy around ₹167, Target ₹180, Stop Loss ₹160.

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.