# Stocks to buy under ₹200: Tata Steel, South Bank, Castrol by Mehul Kothari of Anand Rathi | Target, SL, market outlook — retained record
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source: [news](https://highsignal.app/data/news) (news:india-mint-markets) published 2026-09-26 03:03 ingested 2026-09-27 02:54
[original source ↗](https://www.livemint.com/market/stock-market-news/stocks-to-buy-under-rs-200-tata-steel-south-bank-castrol-by-mehul-kothari-of-anand-rathi-target-sl-market-outlook-11790390076388.html)
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Mehul Kothari's stock picks under ₹200: The Indian stock market witnessed a volatile, net-negative week from September 21–25, 2026. Markets started on a positive note on bargain hunting but remained mixed through mid-week before witnessing a sharp sell-off on Thursday, with the NIFTY 50 index falling nearly 384 points to 23,063, its lowest level in several months.
Rising US bond yields, crude oil moving above $100, a weaker rupee and broad-based selling in financial stocks weighed heavily on sentiment, while India VIX surged sharply. Markets recovered marginally on Friday, but the rebound was not enough to offset the previous day’s losses. Overall, the NIFTY 50 and Sensex ended the week lower, with global yields, elevated crude prices, and risk-off sentiment remaining key concerns.
Mehul Kothari, Deputy Vice President — Technical Research at Anand Rathi, believes the Nifty 50 index has now witnessed its seventh consecutive weekly decline, an unusual streak not seen in the index over the past several years, clearly highlighting the extent of recent pressure and the deterioration in market sentiment. However, despite the prolonged correction, our view remains unchanged. The index is now trading around the key 23,000–23,100 zone, which not only remains crucial horizontal support but also coincides with the rising channel support, making it particularly important from a technical perspective.
“The daily chart continues to show a positive divergence, indicating that the downside may be approaching its final phase. While volatility can remain elevated and another bout of weakness cannot be ruled out, we continue to believe that 23,000 should ideally mark the maximum extent of the current correction. The immediate focus now shifts to whether NIFTY can stabilise and reclaim 23,300, followed by 23,500; a sustained move above these levels would provide the first meaningful signs that the selling pressure is easing,” Mehul Kothari of Anand Rathi said.
Until then, patience remains important, as after such a prolonged decline, the market could see sharp swings before a meaningful recovery takes shape.
On the outlook for the Bank Nifty index, Mehul Kothari said, the key benchmark index remained largely flat today but ended the week on a negative note, continuing to remain under pressure after the recent sharp decline. The index is now trading around the important 55,500 mark, with 55,000 emerging as the next major support. Importantly, this level also coincides with the 61.8% retracement of the previous upmove, making it a crucial zone from a technical perspective. At the same time, the daily chart continues to show a positive divergence, suggesting that despite the sustained weakness, downside momentum may be approaching exhaustion.
“A few hundred points of volatility around the current levels cannot be ruled out, but the 55,000–55,500 zone remains important for the index to stabilise and attempt a recovery. On the upside, 56,000 remains the immediate hurdle, and a sustained move above this level would provide the first indication of improving strength. Until then, volatility is likely to remain elevated, but the developing divergence keeps the possibility of a reversal alive,” Kothari said.
Regarding short-term stock picks, Mehul Kothari of Anand Rathi recommended these three shares priced under ₹200: Tata Steel, South Indian Bank, and Castrol India.
1] Tata Steel: Buy at ₹189 | Target ₹198 | Stop Loss ₹184;
2] South Indian Bank: Buy at ₹50 | Target ₹55 | Stop Loss ₹46; and
3] Castrol India: Buy at ₹200 | Target ₹212 | Stop Loss ₹193.
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.
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.
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.
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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