Top Stock Picks Under ₹200: Mehul Kothari Recommends Three Shares
Stocks to buy under ₹200: Mehul Kothari of Anand Rathi recommends three shares to buy or sell
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Mehul Kothari, Deputy Vice President of Technical Research at Anand Rathi, suggests a 'buy on dips' strategy for the Nifty 50 index, which has shown a recovery after recent volatility. He recommends buying IRB Infrastructure, GMR Airports, and MRPL, with specific targets and stop-loss levels.
- 01Nifty 50 index closed above 24,300, marking a recovery after volatility.
- 02Mehul Kothari warns of potential short-term pullbacks towards 23,600–23,700.
- 03Three stock recommendations include IRB Infrastructure, GMR Airports, and MRPL.
- 04Investors are advised to monitor resistance levels around 24,300–24,500.
- 05Bank Nifty faces resistance in the 57,200–57,500 zone.
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The Indian stock market experienced significant volatility last week but ended positively, with the Nifty 50 index gaining over 1%. It closed above 24,300, recovering from a dip towards 23,500. Mehul Kothari of Anand Rathi noted early signs of negative divergence on the hourly charts, suggesting a potential pullback to the 23,600–23,700 range. He advises investors to adopt a 'buy on dips' strategy, especially around this support zone, while keeping an eye on the resistance between 24,300 and 24,500. Kothari also provided three stock recommendations: buy IRB Infrastructure above ₹22.75 with a target of ₹25, GMR Airports at ₹95 targeting ₹101, and MRPL at ₹178 targeting ₹198. The Bank Nifty index is nearing a crucial resistance zone at 57,200–57,500, where any rejection could lead to a pullback.
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These stock recommendations could provide investors with opportunities for gains in a recovering market. Buying at the suggested levels may yield favorable returns if the market continues its upward trend.
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