Stocks to buy under ₹200: The Indian stock market ended flat on Friday, September 5, on profit booking as concerns over Trump tariffs and their economic fallout, as well as sustained foreign capital outflow, continued to weigh on market sentiment. The Sensex and the Nifty 50 market benchmarks opened higher but failed to hold gains despite positive global cues on expectations of a US Fed rate cut this month. The Sensex slipped 7 points to end at 80,710.76, while the Nifty 50 ended at 24,741, up 7 points. The BSE Midcap index fell 0.10 per cent, while the Smallcap index increased by 0.09 per cent.
Stock market outlook
Mehul Kothari, Deputy Vice President of Technical Research at Anand Rathi, believes the Indian stock market sentiment is cautious to positive as the nifty 50 index is trading in 24,400-24,350 to 24,900-25,000 range.
Speaking on the outlook of the Nifty 50 index, Mehul Kothari, Deputy Vice President of Technical Research at Anand Rathi, said, “The Nifty 50 index is still consolidating within a well-defined band, but the undertone looks slightly constructive as long as it defends the 24,400–24,350 support zone. This area coincides with the previous swing low and has been tested multiple times, which makes it a crucial demand zone in the near term. On the higher side, the 24,900–25,000 zone continues to pose a hurdle. A decisive close above 25,000 could open the gates for a stronger recovery towards 25,150 and eventually 25,400. Till that happens, we expect Nifty to oscillate within this broad range with a positive tilt.”
On the outlook of the Bank Nifty index, Mehul Kothari of Anand Rathi said, “The Bank Nifty index remained flat to positive during the week and closed around the 54,000 mark. The index is still hovering near its previous move’s 100% extension support, making the 53,000–53,200 zone a critical base. As long as this holds, there is scope for stability, while a sustained move above 54,500 could pave the way for a meaningful recovery in the banking space.”
Mehul Kothari’s stock recommendations under ₹200
Regarding buy or sell stocks for Monday, Mehuil Kothari of Anand Rathi recommended buying these three shares under ₹200: SeQuent Scientific, IDFC First Bank, and IOB.
1] SeQuent Scientific: Buy at ₹182, Target ₹792, Stop Loss ₹177;
2] IDFC First Bank: Buy at ₹72, Target ₹78, Stop Loss ₹69; and
3] IOB: Buy at ₹38.50, Target ₹43, Stop Loss ₹36.30.
Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
