Stocks to buy under ₹200: Mehul Kothari of Anand Rathi recommends three shares to buy for short term

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Stocks to buy under ₹200: The Indian stock market ended lower for the fourth consecutive week, with the Sensex declining nearly 1% and the Nifty falling around 1.15%, weighed down by rising crude prices, higher bond yields and renewed Fed rate-hike concerns. Brent crude surged nearly 7% amid US-Iran tensions, adding to market worries.
On Friday, however, the benchmarks snapped a four-day losing streak as easing rate concerns and improved global cues triggered a modest recovery, with the Sensex rising 362.57 points (0.48%) to 76,515.43 and the Nifty gaining 24.25 points (0.10%) to 23,897.70. Metals and financials led the rebound, although profit-booking and weakness in autos capped the upside.
Mehul Kothari, Deputy Vice President — Technical Research at Anand Rathi, believes the Indian stock market bias looks weak on the technical chart pattern. It would improve once the Nifty 50 index decisively comes above 24,000.
Speaking on the outlook for the Nifty 50 index, Mehul Kothari of Anand Rathi said, “We believe a sustained move back above 24,000 is crucial to reinforce the bullish setup and revive upward momentum. Above 24,000, 24,350 remains the immediate hurdle, and a sustained breakout above this level could significantly strengthen the bullish momentum, with “no looking back” thereafter.”
On the outlook for the Bank Nifty index, 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,” said Mehul Kothari of Anand Rathi.
Regarding Mehul Kothari's stock picks under ₹200, Anand Rathi expert recommended buying these three shares: Tata Steel, UCO Bank, and Sagility.
1] Tata Steel: Buy at ₹189 | Targets ₹196, ₹201 | Stop Loss ₹183;
2] UCO Bank: Buy at ₹24.50 | Target ₹26 | Stop Loss ₹22; and
3] Sagility: Buy at ₹46.50 | Target ₹54 | Stop Loss ₹42.
Disclaimer: This story is for educational and informational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified financial experts before making any investment decisions.
Asit Manohar has nearly two decades of experience in the mainstream media. In this period, he has served esteemed media organisations like NDTV Profit, The Economic Times, and Zee Business. He has been working at LiveMint Digital since April 2021. During these two decades of journey in mainstream media, Asit has mainly covered external affairs, markets and personal finance. However, his earliest beats include railways, SME, MSME, and politics (Congress beat). Some of his features on political, economic, and foreign policy are documented in the parliamentary records. <br><br> While pursuing his MA (Mass Communication, Session 2004-06), Asit began his media career as a stringer at All India Radio in Varanasi. At AIR Varanasi, Asit worked with the Gyanvani, Yuvvani and Vividh Bharti teams. After working for nearly one year at AIR Varanasi, he shifted to print journalism and started working as a stringer for the HT Media Ltd, Varanasi. At HT Media Ltd in Varanasi, he covered the BHU beat. <br><br> Asit has also worked with some brokerage houses. He has worked with Religare Broking and India Infoline, where he assisted the research team in developing and executing trade strategies for intraday cash, F&O, and commodities. <br><br> Asit is a Gold Medalist in MA (Mass Communication) from BHU, Varanasi. He did his BSc. (Hons) in Mathematics from Magadh University, Bodh Gaya. Asit was a National Talent Scholarship holder during his senior secondary studies (1988-91).
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