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Stocks to buy under ₹100 | Mehul Kothari's stock recommendations: The Indian stock market recorded its strongest weekly gains in nearly six months for the week ended October 16, 2026, with the Sensex rising 3.11% to 74,729 and the Nifty 50 index gaining 2.8% to 23,146, marking their second consecutive weekly advance. The rally was led by a spectacular 11.7% surge in the Nifty IT index, its biggest weekly gain in nearly 18 years, supported by strong Q2 results 2026 and a global rotation towards traditional technology stocks. Highlighting the major triggers, which fueled buying in Sensex, Nifty and other index-listed stocks, Mehul Kothari, Deputy Vice President — Technical Research at Anand Rathi, said, “A stronger Indian Rupee, softer crude oil prices, domestic institutional buying and optimism around a potential India-US trade deal further supported sentiment. However, the rally remained concentrated in large caps, with midcaps posting modest gains while smallcaps largely lagged, alongside weakness in FMCG and pharma stocks.” Speaking on the outlook for the Nifty 50 index, Mehul Kothari said, the 50-stock index has staged a remarkable recovery, rallying nearly 1,000 points from its recent low of around 22,150 to a high near 23,150 in a short span. This validates our earlier stance of not panicking during the breakdown near 22,200, as highlighted by the ‘Triple Bullish Divergence’ on RSI across NIFTY 50, NIFTY 500, NIFTY MIDCAP 100 and NIFTY MIDCAP 150. “With selling pressure easing and momentum improving, we now maintain our BUY ON DIPS stance. The crucial support has shifted to 22,600, and holding above this level will keep bullish confidence intact. On the upside, 23,200 remains the immediate hurdle, and a sustained breakout above it could open the door towards 23,600 in the coming week. While volatility may persist, the sharp recovery from the recent lows strengthens the case for further upside,” Mehul Kothari of Anand Rathi said. On the outlook for the Bank Nifty index, the Anand Rathi expert said, the key benchmark index extended its recovery, gaining over 1% during the week and touching a high near 56,000 before closing around the same levels. Going ahead, a sustained move above 56,000 could trigger further upside towards 57,000, which remains a critical resistance hurdle. “On the downside, support has now shifted higher to the 55,200–54,700 zone, which will be crucial to monitor. As long as the index sustains above this support zone, the near-term outlook remains positive, with a decisive breakout above 56,000 likely to reinforce bullish momentum,” Mehul Kothari said. Regarding stocks to buy under ₹100, Mehul Kothari of Anand Rathi recommended these three shares: Equitas Small Finance Bank, UCO Bank, and Suzlon Energy. 1] Equitas Small Finance Bank: Buy at ₹70.50 | Target 75 | Stop Loss ₹67; 2] UCO Bank: Buy at 23.75 | Target ₹26 |Stop Loss ₹22; and 3] Suzlon Energy: Buy at ₹42 | Target ₹46 | Stop Loss ₹38. 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). Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates. Oops! Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image.
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