Stocks to buy under ₹200: The Indian stock market ended lower on Friday amid mixed sentiment in global equities. The BSE Sensex declined 182.01 points, or 0.22%, to close at 81,451.01, while the Nifty 50 settled 82.90 points, or 0.33%, lower at 24,750.70. Both the benchmark indices extended losses for the second straight week, dropping 0.4% each for the week.
Stock Market Outlook
Mehul Kothari, Deputy Vice President — Technical Research at Anand Rathi, noted that during the week, the Nifty 50 index remained stuck in a tight range of 25,100 to 24,650, showing limited directional movement. For the second consecutive week, the index consolidated just below the 25,000 mark, reflecting a pause in upward momentum.
“Following a substantial upward move of over 3,000 points since April’s lows, Nifty 50 has taken a well-deserved pause, retreating nearly 600 points from its recent peak around 25,050 to revisit the 24,450 zone. This pullback falls exactly in line with our previously expressed cautious outlook,” Kothari said.
According to him, the technical setup remains consistent: the index is still trading near the pivotal 161.8% Fibonacci extension, while the Golden Crossover — where the 50-day EMA stays above the 200-day EMA — is positioned much lower between 23,800 and 23,500. This structure suggests the risk of a more meaningful correction remains alive.
“We maintain a cautious bias, with immediate resistance at 25,300 and a key support level at 24,450 — breaching which could trigger a deeper corrective phase. In this environment, booking profits on rallies is preferred over buying into the dips, as the retracement may extend beyond a simple pullback,” Kothari said.
Even a high-beta index like Bank Nifty remained confined within a 1,000-point range throughout the week, reflecting cautious trading. Looking ahead, he believes the levels of 56,000 and 55,000 will be crucial for Bank Nifty — a decisive break above or below these marks could set the tone for the next directional move.
Mehul Kothari’s stock recommendations
Regarding stocks to buy under ₹200, Mehul Kothari of Anand Rathi recommended buying these three buy or sell stocks: Central Bank of India, Delta Corp, and Gujarat Ambuja Exports shares.
1] Central Bank of India: Buy near ₹38.8; Target Price: ₹41.5; Stop Loss: ₹37
2] Delta Corp: Buy at ₹92; Target Price: ₹96.5; Stop Loss: ₹89.50
3] Gujarat Ambuja Exports: Buy at ₹115.8; Target Price: ₹121; Stop Loss: ₹113
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.
