Mehul Kothari’s stock recommendations: The Indian stock market had a volatile and largely weak week ending August 21, 2026, with benchmark indices witnessing a prolonged decline before staging a sharp recovery on Thursday. Persistent pressure came from elevated crude oil prices near $93–94/barrel, rising global bond yields and geopolitical concerns, with the Nifty 50 index extending its losing streak to seven sessions.
On Thursday, the market rebounded sharply, with the Sensex gaining 628 points and the 50-stock index rising 154 points, led by broad-based buying across IT, realty, FMCG and financials. The recovery was supported by easing US bond yields, a firmer Indian National Rupee (INR) and improved risk appetite, while FIIs turned net buyers. However, the indices remained range-bound on Friday, leaving the benchmarks around 0.5–0.6% lower for the week.
Stock market outlook
Mehul Kothari, Deputy Vice President — Technical Research at Anand Rathi, believes the Indian stock market’s positivity will remain intact as long as the Nifty 50 index remains above 23,600. The Anand Rathi expert continues to maintain a “Buy on Dips” stance, with the 24,100–24,000 zone likely to act as strong support on any decline.
Speaking on the outlook of the Nifty 50 today, Mehul Kothari of Anand Rathi said, “The Nifty 50 index has turned higher from the 24,000 mark, which is backed by multiple technical supports, including a daily gap area, rising trendline and the 61.8% Fibonacci retracement of the previous rise. Hence, we continue to maintain a “Buy on Dips” stance, with the 24,100–24,000 zone likely to act as strong support on any decline.”
Mehul Kothari said that overall long-term structure remains intact as long as 23,600 is not breached on a closing basis. On the upside, 24,300 remains the immediate hurdle, and a sustained breakout above this level could trigger further momentum. We continue to maintain our immediate target of 25,000, although the move is likely to be gradual rather than one-way, with 24,500–24,750 acting as an important hurdle.
“A sustained move above this zone would strengthen the momentum towards 25,000. Overall, we remain constructive and believe dips towards key support levels should be viewed as buying opportunities as long as the broader structure remains intact,” Mehul Kothari of Anand Rathi said.
On the outlook for the Bank Nifty today, Mehul Kothari said, the key benchmark index continues to consolidate within a symmetrical triangle formation, indicating a phase of contraction before the next directional move. The index is currently holding above the lower end of the pattern, keeping the overall structure positive.
“A decisive breakout above 58,200 would confirm an upside breakout from the triangle and could trigger fresh momentum. On the downside, a break below 57,000 would negate the positive setup and signal further weakness. For now, we maintain a bullish bias and recommend a buy-on-dips approach as long as NIFTY Bank sustains above 57,000,” Kothari added.
Mehul Kothari’s stock picks
Regarding ₹200″>stocks to buy under ₹200, Mehul Kothari of Anand Rathi recommended these three shares to buy or sell: NCC, Finolex Industries, and Nocil.
1] NCC: Buy near ₹145, Target ₹160, Stop Loss ₹138;
2] Finolex Industries: Buy near ₹160, Target ₹168, Stop Loss ₹156; and
3] Nocil: Buy near ₹166, Target ₹178, 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.
