2 days ago
Anand Rathi Analyst Names Three Stocks Under ₹200
Indian stock markets had a difficult week and fell for the sixth week in a row.
Mehul Kothari, a market analyst at Anand Rathi, said the Nifty could remain under pressure.
He said the Nifty may find important support near 23,000 to 23,100.
If the Nifty rises above 23,700, selling pressure may begin to ease.
Kothari also said Bank Nifty must hold 55,500 to avoid deeper losses.
He recommended three shares priced below ₹200 for investors to watch.
They are Castrol India, NHPC, and Vikram Solar.
Each recommendation included a possible price target and a stop-loss level.
A stop-loss is a price level that can help limit a potential loss.
Mehul Kothari of Anand Rathi recommended Castrol India, NHPC, and Vikram Solar.
His targets and stop-loss levels are ₹210/₹190 for Castrol India, ₹81.50/₹74.50 for NHPC, and ₹174/₹161 for Vikram Solar.
The Sensex fell 0.65% to 74,294.96 and the Nifty declined 0.22% to 23,346.40 during September 14–18.
Kothari identified 23,000–23,100 as a crucial support zone for the Nifty, with 23,700 as the first upside signal.
Bank Nifty support was placed at 55,500, while 57,000 was identified as an immediate hurdle.
- Who
- Mehul Kothari, Deputy Vice President—Technical Research at Anand Rathi, recommended three stocks.
- What
- He recommended Castrol India, NHPC, and Vikram Solar, with specified targets and stop-loss levels.
- Where
- The recommendations concern Indian equity markets.
- When
- The market review covered the September 14–18 week; the article does not specify a separate recommendation date.
- Why
- Kothari cited technical analysis and identified potential support and recovery levels amid continued market weakness.
Key facts
- Analyst
- Mehul Kothari, Deputy Vice President—Technical Research at Anand Rathi
- Castrol India
- Target ₹210; stop-loss ₹190
- NHPC
- Target ₹81.50; stop-loss ₹74.50
- Vikram Solar
- Target ₹174; stop-loss ₹161
- Nifty support
- Key zone at 23,000–23,100
- Nifty upside levels
- 23,700 could signal easing pressure; 24,500 is needed for a stronger recovery
- Bank Nifty levels
- Support at 55,500 and immediate hurdle at 57,000
Quotes
Mehul Kothari
Deputy Vice President of Technical Research at Anand Rathi
“The index may still witness one more low around the 23,000 mark, which remains the most important support zone and also coincides with the rising channel support. In our view, this should ideally be the maximum extent of the current correction,”
livemint.com
“The immediate and crucial support remains at 55,500, which also marks the previous breakout level and therefore assumes greater significance. This level needs to hold on a weekly closing basis for the broader structure to remain intact,”
livemint.com
Sources
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