Stocks to Buy Under ₹200: Mehul Kothari of Anand Rathi Recommends Three Shares to Buy or Sell

Why It Matters

The market’s resilience and the identified breakout zones suggest continued upside for risk‑on investors, while the low‑priced stock picks offer short‑term upside with defined risk parameters.

Key Takeaways

• Nifty gained 1% weekly, ending near 24,100 (≈$294)
• Mid‑cap and small‑cap indices rose 4% each
• Kothari sees bullish trend if Nifty stays above 24,400 (≈$298)
• Recommended NTPC Green buy @ ₹107 ($1.30) target $1.43
• Rolex Rings buy @ ₹150 ($1.83) target $2.00

Pulse Analysis

The Indian equity market demonstrated notable resilience in early May, closing the week with a 1% gain in the NSE Nifty despite a Friday pullback that saw the index dip to 24,176. Broader segments outshone the headline indices, with mid‑cap and small‑cap benchmarks each posting roughly 4% growth, underscoring a shift of capital toward higher‑growth stocks. Analysts attribute the bounce to easing geopolitical tensions, steadier global sentiment, and a modest inflow of foreign institutional investors, all of which helped offset profit‑taking pressures and weekly expiry dynamics.

From a technical perspective, Mehul Kothari of Anand Rathi points to a symmetrical‑triangle breakout that pushed the Nifty above the 24,300 level and briefly breached 24,400. He argues that a sustained stay above this threshold could propel the index toward the next resistance zones at 24,600 and 24,800, while a slip below 23,900 would likely trigger renewed consolidation. The Nifty Bank index also confirmed a breakout from its falling trend line, yet it faces a key hurdle near 56,500 (≈$690); support around 55,000 (≈$671) and 54,200 (≈$661) may cushion any short‑term weakness.

Kothari’s short‑term stock recommendations focus on equities priced under ₹200, offering clear entry, target and stop‑loss points. NTPC Green is a buy near ₹107 ($1.30) with a target of ₹117 ($1.43); Rolex Rings is suggested at ₹150 ($1.83) aiming for ₹164 ($2.00); and MRPL is a dip buy around ₹165 ($2.01) targeting ₹185 ($2.26). These picks span renewable energy, consumer goods and oil sectors, providing diversified exposure while keeping downside risk limited. For investors seeking modest capital appreciation in a volatile environment, the defined risk‑reward parameters make these stocks attractive candidates for a tactical allocation.