Three Stocks Under ₹200 to Buy for Short-Term Gains, Says Mehul Kothari of Anand Rathi

The Indian stock market had a weak week from September 7-11, 2026, with the Sensex and Nifty 50 index declining for the fifth consecutive week amid soaring crude oil prices and geopolitical tensions. The Sensex fell from around 76,500 to 74,782, while the Nifty 50 index declined from nearly 23,900 to 23,398. The sell-off was largely driven by Brent crude crossing $100 per barrel and briefly touching $108, along with higher global bond yields, a weaker Indian National Rupee (INR) and broad-based selling. Although Thursday witnessed a modest recovery, Friday's volatile session erased most of the gains, with early losses followed by a partial rebound. Mehul Kothari, Deputy Vice President — Technical Research at Anand Rathi, believes the Indian stock market is biased toward caution, as the Nifty 50 index is at a crucial support level of 23,200 to 23,100. However, the Anand Rathi expert expects a turnaround from this support, as the RSI is at its lowest level in the past few months. The daily RSI is now at its lowest levels seen in the past few months, while most lower time frames are already deeply oversold, suggesting that the scope for aggressive fresh selling may be limited from here. Mehul Kothari expects crude prices to cool off somewhat, which could provide further relief to equities. On the upside, 23,600–23,800 remains the immediate hurdle, and a sustained move above this zone can trigger a sharper recovery. Mehul Kothari also recommends buying Bank Nifty, with a stop-loss of 55,700 and a target of 57,000. NHPC, IOC, and NBCC are the three stocks recommended to buy under ₹200, with stop-losses of 74, 132, and 79 respectively, and targets of 80, 140, and 88. Mehul Kothari of Anand Rathi believes that markets often make their best moves when confidence is at its lowest, and after a prolonged decline, the risk-reward profile is gradually becoming more favourable for a reversal. For the Bank Nifty index, the 56,000–55,000 zone is an important support and hope zone for the bulls, with a sharp recovery from the lows indicating strong buying interest. The current setup suggests that the Bank Nifty can stabilise and attempt a meaningful recovery from here, with 57,000 being the first important trigger for a fast recovery towards 58,000.