Stocks to buy under ₹200: Last week was range-bound mainly for the domestic markets, with the key benchmark indices of the Indian stock market oscillating between the week’s low and high. Initially, the Nifty 50 dipped towards the 25,850 mark during the first half, but it recovered quickly in the second half to post a new lifetime high of 26,310. It has taken the 50-stock index over a year to reclaim a fresh high, which means the index returns since September 2024 have essentially remained flat. On a weekly basis, the index also closed flat. In fact, midcap stocks outperformed the benchmarks — something that was much needed at this stage of the market.
Stock market next week
Mehul Kothari, Deputy Vice President of Technical Research at Anand Rathi, believes the Indian stock market bias remains positive until the crucial support band of the Nifty 50 index, placed at 26,000 to 25,800, remains intact. The Anand Rathi expert stated that the Nifty 50 index may soon reach 26,500 once it breaks above 26,300 on a closing basis.
Speaking on the outlook of the Nifty 50 index, Mehul Kothari of Anand Rathi said, “Last week, we discussed the cup-and-handle pattern, and our medium-term stance remains strongly bullish, as this long-term breakout is expected to unfold over the coming months—likely in the first half of 2026—unlocking much higher levels for Nifty. In the near term, however, 26,300 acted exactly as anticipated: a key trigger zone where the index made a high and turned slightly lower. Going ahead, a sustained move above 26,300 could extend the rally toward 26,500 or higher, after which a short-term corrective phase is likely.”
Kothari said that most heavyweights appear to be in the final leg of their upward move. Still, despite that, we remain firmly bullish on the broader markets, with expectations of renewed outperformance from midcaps and small caps. On the downside, the 26,000–25,800 zone serves as the immediate support for the coming week, and a breach of this range could temporarily stall the ongoing momentum.
On the outlook of the Bank Nifty index, Mehul Kothari of Anand Rathi said, “Even the Nifty Bank index turned lower after making a new high near 59,900. As expected, there was a strong supply from the resistance created by a rising trendline on the long-term chart. Even if the index manages to move above 60,000, another major rising trendline is positioned around the 60,500–61,000 zone. Hence, it will be a tough hurdle for the bulls to surpass 61,000 in the coming weeks. Thus, we expect underperformance from the banking index once it approaches this zone. On the downside, immediate support is placed near 58,500 – 58,000.”
Mehul Kothari’s stock recommendations today
Regarding stocks to buy under ₹200, Mehul Kothari of Anand Rathi recommended these three buy-or-sell stocks: Jamna Auto Industries, Yes Bank, and MRPL.
1] Jamna Auto Industries: Buy around ₹114, Target ₹124, Stop Loss ₹108;
2] Yes Bank: Buy around ₹23, Target ₹26, Stop Loss ₹21; and
3] MRPL: Buy at ₹156, Target ₹170, Stop Loss ₹145.
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.
