Stocks to buy under 100: Mehul kothari of anand rathi recommends three shares to buy or sell

Stocks to buy under 100: For the third week in a row, domestic markets moved with a limited range; However, this week was distinct due to strong activity in broader markets and specific sector. Although the benchmark nifty styed mostly confined between 24,500 and 25,100, the nifty midcap and smallcap indices showed significant utperformance.

Stock market outlook

Mehul Kothari, Deputy Vice President – Technical Research at anand rathi, noted that adding to the momentum, banking indices surged, fuled by a surprise 50 bps rate cut in friday ‘ Announcement – A Move That Caught The Street Off Guard. Eventually, nifty managed to end the week Above the psychological 25,000 mark, posting gains of Around 1%, supported by sectorral Resilience and Robust Participation from the broader market.

“For the past couple of weeks, we’ve maintained a cautious stance on the markets. Prompting us to ressesses our view, “Kothari said.

According to Him, We are now entering a Critical Zone of Resistance Between 25,100 – 25,300, which coincides with the golden ratio retracement levels. This area is likely to witness profession booking, and any further upside count be capted in the Near Term.

“We Foresee The Possibility of a Fresh Negative Divergence in the Daily RSI If Nifty Crosses Above 25,100. Hence, We Continue to Advise Caution in this zone and Stick to our strate to out. A Decisive Close Above 25,300 Cold Lead Us to Revise Our Stance. Larger Downside Than Currently Antiquetted. The Coming Will Be Key-Momentum Needs Follow-Through, or Else This Bounce Couldy Fade, “He said.

Meanwhile, speaking on the outlook of bank nifty, “nifty bank, on the other hand, had its its own script to follow. The index surgged Nearly 1.5% for the week RBI Policy, And Scaled A New All-Time High Near The 56,700 Mark. Downside, immediane support is placed at 55,500, which also marks Friday’s low.

Mehul kothari’s stock recommendations

Regarding Stocks to Buy Under 100, Mehul kothari of anand rathi recommended buying these three buy or sell stocks: mother sumi wiring India, gmr airports, and nhpc.

1] MOTERSON Sumi Wiring India: Buy Near 60.50; Target price: 64; Stop Loss: 58.8

2] Gmr airports: Buy at 86; Target price: 90; Stop Loss: 84

3] NHPC: Buy at 89; Target price: 93; Stop Loss: 87

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