Top stocks to Buy under ₹200: NHPC, IOCL, NBCC — Mehul Kothari of Anand Rathi recommends | Target, stop-loss

Mehul Kothari Stock Recommendations under ₹200: The Indian stock market had a weak week (September 7–11, 2026), with the Sensex and Nifty 50 index declining for the fifth consecutive week amid soaring crude oil prices and geopolitical tensions. The Sensex fell from around 76,500 to 74,782, while the Nifty 50 index declined from nearly 23,900 to 23,398. The sell-off was largely driven by Brent crude crossing $100 per barrel and briefly touching $108, along with higher global bond yields, a weaker Indian National Rupee (INR) and broad-based selling. Although Thursday witnessed a modest recovery, Friday’s volatile session erased most of the gains, with early losses followed by a partial rebound.

Stock market | Mehul Kothari of Anand Rathi's prediction

Mehul Kothari, Deputy Vice President — Technical Research at Anand Rathi, believes the Indian stock market is biased toward caution, as the Nifty 50 index is at a crucial support level of 23,200 to 23,100. However, the Anand Rathi expert expects a turnaround from this support, as the RSI is at its lowest level in the past few months.

Speaking on the outlook of the Nifty 50 index, Mehul Kothari of Anand Rathi said, “The index slipped towards 23,200 but importantly managed to hold its ground and recover from the lows. Going ahead, our view remains unchanged — the 23,200–23,100 zone is a crucial support area, and the market can start stabilising and turn around from these levels.”

The daily RSI is now at its lowest levels seen in the past few months, while most lower time frames are already deeply oversold, suggesting that the scope for aggressive fresh selling may be limited from here.

“We also expect crude prices to cool off somewhat, which could provide further relief to equities. On the upside, 23,600–23,800 remains the immediate hurdle, and a sustained move above this zone can trigger a sharper recovery. Markets often make their best moves when confidence is at its lowest, and after a prolonged decline, the risk-reward profile is gradually becoming more favourable for a reversal,” Mehul Kothari of Anand Rathi believes.

Outlook for Bank Nifty today

On the outlook of the Bank Nifty today, Mehul Kothari said, “The Bank Nifty index witnessed a sharp dip today, breaking below the crucial 56,000 support and slipping towards 55,700. However, the sharp recovery of nearly 1,000 points from the lows is what makes the current setup interesting. The price action indicates strong buying interest in the 56,000–55,000 zone, making this entire band an important support and hope zone for the bulls.”

“As long as this zone is respected, we believe Bank Nifty can stabilise and attempt a meaningful recovery from here. On the upside, 57,000 is the first important trigger, and a sustained move above this level can lead to a fast recovery towards 58,000, which remains the major hurdle. For now, the sharp recovery from the lows gives us reason to remain hopeful rather than turn aggressively bearish,” the Anand Rathi expert said.

Mehul Kothari's stock picks under ₹200

Regarding stock picks under ₹200, Mehul Kothari of Anand Rathi recommended three shares to buy — NHPC, IOC, and NBCC.

1] NHPC: Buy at ₹76 | Target ₹80 | Stop Loss ₹74;

2] IOC: Buy at ₹135 | Target ₹140 | Stop Loss ₹132; and

3] NBCC: Buy at ₹82 | Target ₹88 | Stop Loss ₹79.

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