Stocks to buy under ₹200: This week, the Indian stock market maintained their upward tone as the Nifty 50 index inched higher through most sessions. Despite a few intraday swings, overall sentiment stayed positive and buying interest remained intact. The index maintained its gains, ending the week on a steady and constructive note. Nifty even came close to testing its all-time high near 26,277, but couldn’t register a fresh breakout, eventually ending the week around the 26,100 mark. However, the broader markets remained under pressure, with both the Midcap and Small Cap indices experiencing persistent declines throughout the week.
Stock market next week
Mehul Kothari, Deputy Vice President of Technical Research at Anand Rathi, believes the Indian stock market sentiment is positive as the Nifty 50 index has confirmed a bullish cup-handle breakout on the technical chart pattern. Mehul Kothari of Anand Rathi said the Nifty 50 index is on the cusp of another breakout at 26,300 and predicted a short-term target for the 50-stock index of 26,500.
Speaking on the outlook of the Nifty 50 index, Mehul Kothari said, “The Nifty 50 index has confirmed a strong bullish cup-and-handle breakout, but the pattern is developing on a long-term timeframe. This means its major impact may unfold over the coming months, possibly in the first half of 2026, opening the door to much higher levels for the index. In the immediate term, we expect a breakout above the 26,300 mark, which could extend the rally toward 26,500. However, post this move, a short-term corrective phase is likely. Hence, this could be the final leg of the current rally before a brief dip, and traders should keep this in mind. The lack of participation from the broader markets remains a concern, as both Midcap and Small-cap segments continue to underperform.”
“We are closely monitoring these indices and will update as and when conditions turn favourable. On the downside, the immediate support for Nifty is placed at 25,700, and a breach of this level could temporarily halt the move toward new lifetime highs,” Mehul Kothari of Anand Rathi added.
On the outlook of the Bank Nifty index, Kothari said, “The Bank Nifty index turned lower after making a new high near 59,600. As expected, there was a strong supply from the resistance created by a rising trendline on the long-term chart. Even if the index manages to move above 59,600, another major rising trendline is positioned around the 60,500–61,000 zone. Hence, it will be a tough hurdle for the bulls to surpass 61,000 in the coming weeks. Thus, we expect underperformance from the banking index once it approaches this zone. On the downside, immediate support is placed near 58,500 – 58,000.”
Mehul Kothari’s stock recommendations today
Regarding buy-or-sell stocks for Monday, Mehul Kothari of Anand Rathi recommended these three shares to buy or sell: Canara Bank, Samman Capital, and Lemon Tree.
1] Canara Bank: Sell at around ₹146, Target ₹138, Stop Loss ₹152;
2] Samman Capital: Buy at around ₹158, Target ₹170, Stop Loss ₹151; and
3] Lemon Tree: Buy at ₹155, Target ₹165, Stop Loss ₹150.
Key Takeaways
- Understanding market trends is vital for making informed investment decisions.
- Identifying specific stock targets can help investors optimize their trading strategies.
- Broader market participation is essential for sustained bullish movements.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.