Stocks to buy below ₹200: Mehul Kothari of Anand Rathi recommends three shares to buy on Friday
Stocks to buy under ₹ 200: The Indian stock market snapped its two-day losing streak and rebounded on Thursday, May 29, mirroring a rally in global markets as a US court blocked President Donald Trump's reciprocal tariffs. The equity market rose earlier today, driven by information technology stocks
The 30-share BSE Sensex climbed 320.70 points or 0.39 per cent to settle at 81,633.02 in a volatile session amid monthly expiry in derivative contracts. During the day, it rose 504.57 points or 0.62 per cent to 81,816.89. The 50-share NSE Nifty went up by 81.15 points or 0.33 per cent to 24,833.60. The index swung in both directions on the monthly expiry day before ending with gains. Metal, realty, pharma and IT sector indices were major gainers.
Mehul Kothari, Deputy Vice President — Technical Research at Anand Rathi said that Nifty 50 opened on a positive note but gradually drifted lower through the first half of the session. However, it managed to stage a recovery in the latter part of the day, closing above the 24,800 mark with a gain of 0.33 per cent.
On the hourly chart, Nifty has formed a solid base around the 24,700 level, which coincides with the S3 Camarilla weekly pivot—lending technical significance to this zone. Moreover, a bullish divergence is visible on the 15-minute chart, adding to the potential for an upside move.
'As we head into the May 30 session, the 24,775–24,880 zone—defined by the Camarilla pivot band—will be pivotal for determining near-term market direction. A sustained move above this could reignite bullish momentum, whereas a failure to hold above it may lead to renewed selling pressure. Key resistance is seen at 25,000, while immediate support lies at 24,700,' said Kothari.
Regarding stocks to buy on Monday, Mehul Kothari of Anand Rathi recommended three buy or sell stocks. The three stocks to buy under ₹ 200 are Suzlon Energy, Tata Teleservices (Maharashtra) Ltd, and Aditya Birla Fashion and Retail Ltd.
1.Suzlon Energy: Buy around ₹ 65; Target Price: ₹ 69; Stop Loss: ₹ 63
2.Tata Teleservices (Maharashtra) Ltd: Buy around ₹ 76.50; Target Price: ₹ 82; Stop Loss: ₹ 74
3.Aditya Birla Fashion and Retail Ltd: Buy around ₹ 88.50; Target Price: ₹ 93; Stop Loss: ₹ 86
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