Three Stocks Recommended by Anand Rathi's Mehul Kothari for Buying Below ₹200
Indian Stock Market Report
Week Ending March 13, 2026
The Indian stock market witnessed a sharp decline in the week ending March 13, 2026, driven by escalating geopolitical tensions in West Asia, a surge in crude oil prices, continued FII outflows, and a weakening rupee hitting record lows. The Sensex dropped by 1,470 points (-1.93%) to around 74,564, while the Nifty 50 fell by 4-5% to close near 23,150-23,200.
Market Volatility
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Market volatility surged, with India VIX spiking sharply, making it one of the most turbulent weeks in recent times for Indian equities. The broader markets underperformed, with midcap and smallcap indices declining by nearly 2.5-3%. Sectors like Auto, Metals, PSU Banks, and Private Banks were among the worst hit amid rising oil prices and risk-off sentiment.
Outlook
Mehul Kothari, Deputy Vice President - Technical Research at Anand Rathi, believes that despite the recent stock market crash, the broader market structure remains intact, suggesting the current move could be part of a corrective phase rather than a structural breakdown.
Nifty 50 Index
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The Nifty 50 index is approaching the gap zone near 22,900, which formed in April 2025. A decisive move below this level could open the doors for the 22,800-21,800 zone, which may remain volatile and confusing for traders due to the absence of strong intermediate supports.
Bank Nifty Index
Mehul Kothari also commented on the outlook of the Bank Nifty index, stating that 53,500 remains a crucial level to watch. A decisive move below this level could open the room towards the 52,000 zone, as there are limited immediate supports in between.
Stock Recommendations
Mehul Kothari of Anand Rathi recommended the following three shares:
- Shree Renuka Sugars: Buy at ₹24, Target ₹27, Stop Loss ₹22.50
- Suzlon Energy: Buy at ₹41-₹40, Target ₹46, Stop Loss ₹38
- Adani Power: Buy at ₹145, Target ₹160, Stop Loss ₹137.50
Investor Takeaway
Investors should be cautious and consider hedging their portfolios due to rising market volatility.
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