Stocks to buy under ₹200:Indian equity indices closed lower on Friday after responding negatively to the Q1FY26 earnings reports from the finance and IT sectors, despite some positive trends in global markets.
By the end of the trading day, the Sensex had decreased by 501.51 points, or 0.61%, closing at 81,757.73, while the Nifty 50 fell by 143.05 points, or 0.57%, to settle at 24,968.40.
Throughout the week, Indian equity markets displayed mixed performance, with both the Nifty-50 Index and Sensex dropping 1%, while small-cap stocks saw a rise of 1.4% and mid-caps increased by 1% over the same period.
Investors are now looking forward to developments in trade discussions with the US as the August 1 deadline approaches, following President Donald Trump’s earlier statement that an agreement with India is nearly finalized. Analysts suggest that the markets will likely take a significant turn only after a conclusive resolution is reached in the trade negotiations with the US.
Stock Market Outlook
Nifty 50 levels to watch out for: 25,300-25,650 / 24,700 – 24,450
Mehul Kothari, Deputy Vice President — Technical Research at Anand Rathi said that it was a lacklustre week for the markets, with the Nifty 50 index largely oscillating within a narrow range during the first four sessions. However, the tone turned weak towards the end, as the index finally breached the psychological support of 25,000 during Friday’s session. With this breakdown, Nifty 50 ended the week with a cut of over half a percent, indicating a pause in momentum and cautious undertone among participants.
According to Kothari, Nifty 50 ended the week on a cautious note, breaking below the 25,000 mark in the final session and closing right near a key rising trendline support. While this breakdown hints at weakness, we believe that a follow-up move below 24,900 would be crucial to confirm an extended downside. In the absence of such confirmation, a quick rebound above 25,000 cannot be ruled out, which may provide a short-term exit opportunity for traders holding long positions.
That said, the overall setup remains tricky and indecisive in the near term. Unless the 25,800 resistance is decisively taken out — a level we have been highlighting for weeks — we maintain a cautious stance. Structurally, we continue to expect a corrective phase to play out over the next couple of months, unless a strong breakout emerges, according to Mehul Kothari.
Bank Nifty Outlook
Bank Nifty appears relatively more precarious this week, especially after the breakdown below short-term support zones. Notably, momentum oscillators are also turning negative — the RSI has slipped below key levels, confirming a breakdown, while the ADX (14) has registered a negative crossover, indicating a potential loss of strength in the recent upmove.
“Going ahead, a follow-up move below 56,000 could spell trouble for the bulls. On the contrary, only a move above 57,000 would bring some short-term stability, while a decisive breakout above 58,500 — which coincides with the major rising trendline resistance from previous swing highs — would be needed to turn the structure convincingly bullish. Until then, the index is likely to remain range-bound with a negative bias, and traders are advised caution,” said Mehul Kothari.
Mehul Kothari’s stock recommendations
Regarding stocks to buy under ₹200, Mehul Kothari of Anand Rathi recommended buying these three buy or sell stocks: Yes Bank Ltd, UCO Bank, and Mangalore Refinery and Petrochemicals Ltd (MRPL).
Yes Bank Ltd: Buy at ₹20.17; Stop Loss: ₹19; Target Price: ₹23
UCO Bank: Buy at ₹32.13; Stop Loss: ₹30; Target Price: ₹36
Mangalore Refinery and Petrochemicals Ltd: Buy at ₹149; Stop Loss: ₹142; Target Price: ₹165
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.
