Stocks to buy under ₹200: Mehul Kothari of Anand Rathi recommends three shares to buy or sell | Stock Market News
Source: Live Mint
Stocks to buy under ₹200: Following Donald Trump’s tariffs shock, the Indian stock market crashed heavily on Friday. The Nifty 50 index tanked 345 points and closed at 22,904, the BSE Sensex nosedived 930 points and closed at 75,364, and the Bank Nifty index went off 94 points and finished at 51,502. The BSE Small-cap index crashed 3.43%, while the Mid-cap index corrected around 3.08% during Friday deals.
Stock market outlook
Mehul Kothari, Deputy Vice President — Technical Research at Anand Rathi, believes the Indian stock market mood is sideways to negative. The Nifty 50 index is in a broader range of 22,000 to 23,900, and the 50-stock index may bottom out at around 22,000.
Speaking on the outlook of the Indian stock market, Mehul Kothari said, “At this juncture, the NIFTY 50 index has once again reversed from the resistance zone near 23,800 and is currently hovering around the 23,000 mark. Technically, we believe the bottom of the five-month corrective phase is likely in place near the 22,000 level. The recent 800-point decline appears to be a pullback within the broader 1,900-point rally. The 22,900 – 22,600 zone is emerging as a strong support area for the index. If the index rebounds from this zone, there is a potential formation of a bullish inverse Head and Shoulders pattern, with the current dip possibly forming the right shoulder. While it’s too early to confirm, a breakout above 23,800 would validate this pattern and open the door for further upside. It’s a scenario worth watching closely.”
“On the flip side, a break below 22,600 could trigger some panic, but the bears will only gain a decisive upper hand if the index breaches the 22,300 mark. On the upside, immediate resistance is at 23,250. A sustained move above this level could encourage bulls and strengthen the bullish pattern. With the overhang of the Trump tariff war event behind us, we expect the market to stabilize and behave more rationally going forward. Traders are advised to initiate long positions only above 23,250, but it’s compulsory to hedge such positions with protective puts, given that global uncertainties persist,” Mehul Kothari added.
On the outlook of the Bank Nifty index, Mehul Kothari of Anand Rathi said, “The NIFTY BANK index has shown strong outperformance. After rallying from 48,000 to 52,000, the index has entered a consolidation phase, which has taken the shape of a bullish Flag formation. This pattern would be confirmed on a closing basis above 52,000. We expect an extended rally towards the all-time highs if this breakout occurs. While the move is likely to be gradual, it could provide a significant boost to bullish sentiment in the banking space. On the contrary, a breach of 50,700 would invalidate the pattern and could lead to profit booking in banking stocks.”
Stocks to buy under ₹200
Regarding shares to buy under ₹200, Mehul Kothari of Anand Rathi recommended these three buy or sell stocks: RBL Bank, MRPL, and Trident.
1] RBL Bank: Buy at ₹175, targets ₹184, and ₹190, stop loss ₹168;
2] MRPL: Buy above ₹136, target ₹146, stop loss ₹131; and
3] Trident: Buy on dips near ₹25.50, target ₹28, stop loss ₹24.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
