Anand Rathi's Mehul Kothari Identifies Three Stocks for Investors with a Budget of ₹200
Indian Equity Markets End Week on a Positive Note
The Indian equity markets concluded the week on a strong note, driven by gains in banking and technology stocks amidst optimism surrounding potential progress in US-Iran peace negotiations. The BSE Sensex closed 232 points higher at 75,415, while the NSE Nifty 50 advanced 65 points to settle at 23,719 on Friday.
Despite ending in the green, benchmark indices gave up a part of their intraday gains amid caution over rising crude oil prices and continued foreign fund outflows. Domestic equities continue to remain range-bound, with strong buying support from domestic institutional investors (DIIs) helping cushion downside pressure, while persistent selling by foreign institutional investors (FIIs) continues to cap any sharp upside move.
Global crude oil benchmark Brent crude climbed 2.3% to trade around $104.7 per barrel as geopolitical tensions and uncertainty surrounding the US-Iran negotiations kept energy markets volatile. On Friday, benchmark indices traded higher through most of the session but failed to sustain stronger intraday momentum toward the close.
Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data
Meanwhile, the Indian rupee staged a sharp recovery against the US dollar. The domestic currency appreciated more than 40 paise to close at a one-week high of 95.68 compared with the previous session's close of 96.20.
Market Outlook
The market remains volatile, with the Nifty 50 largely oscillating between the 23,300–23,850 zone amid global uncertainties, elevated crude oil prices, and continued weakness in the rupee. Mehul Kothari, Deputy Vice President — Technical Research at Anand Rathi, noted that the Indian stock market witnessed a range-bound yet volatile week.
| Index | Range | Notes |
|---|---|---|
| Nifty 50 | 23,300-23,850 | Volatile range with no clear directional cues |
| BANK NIFTY | 52,800-54,500 | Key hurdle near 54,500; potential to outperform broader markets |
Read also: US-Iran Tensions Spark Uptick in Oil Prices Amid Global Market Decline
Key Levels to Watch
- 23,850 – 24,600
- 23,300 – 23,100
Stock Recommendations
Mehul Kothari recommended the following short-term picks under ₹200:
| Stock | Recommendation | Target | Stop Loss | | --- | --- | --- | | Yes Bank | Buy near ₹21.50 | ₹23.50 | ₹20.50 | | Punjab National Bank | Buy near ₹102 | ₹110 | ₹98 | | Bandhan Bank | Buy only above ₹194 | ₹208 | ₹187 |
Market Outlook and Advice
Overall, traders are advised to maintain an optimistic yet stock-specific approach, as selective sectors and quality setups are expected to outperform even amid market volatility. Mehul Kothari noted that a decisive breakout and sustained move above 23,850 could mark the beginning of the next major rally and pave the way towards fresh highs in the coming months. However, the move is unlikely to be one-sided, and the market is expected to face multiple hurdles on the upside.
Investor Takeaway
Investors with a budget of ₹200 can consider the stocks identified by Mehul Kothari for potential gains.
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