According to reports from LiveMint, Mehul Kothari, Deputy Vice President — Technical Research at Anand Rathi, has recommended three stocks to buy under ₹100 for short-term trading. The recommendations include Trident at ₹26 with a stop loss of ₹24.50 and target of ₹29, UCO Bank at ₹27 with stop loss of ₹25.30 and target of ₹30.50, and MMTC at ₹68 with stop loss of ₹65 and target of ₹74. These picks are part of Kothari's strategy to capitalize on the current market strength amid mixed global signals and easing crude oil prices. The recommendations come as the Indian equity market extended its winning streak for a third consecutive week, with the Nifty 50 ending near 24,056 and Sensex closing around 77,000.
As reported by LiveMint, the Indian equity market extended its winning streak for a third consecutive week, with the Nifty 50 ending near 24,056 and Sensex closing around 77,000. The benchmark indices recovered from early volatility, supported by easing crude oil prices below $73 per barrel that improved inflation expectations and strengthened market sentiment. The market demonstrated resilience despite global uncertainties, aided by sustained domestic institutional buying, foreign inflows, and a stronger rupee. Sectoral performance remained mixed, with Auto, Realty, and Defensive stocks outperforming while IT lagged on weak global cues. The market structure remains constructive with analysts viewing declines as buying opportunities, with improving risk appetite and softer crude prices keeping the market on a positive footing.
According to LiveMint reports, Mehul Kothari noted that the Nifty made two attempts to register a decisive closing breakout above the 24,150–24,200 resistance zone but failed to sustain above this crucial hurdle. The index found support at the 23,700–23,500 gap support zone, which successfully cushioned the decline. For the coming week, Kothari suggests levels to watch at 24,300–24,600/23,800–23,500, with a convincing breakout and close above 24,200 confirming renewed bullish momentum and potentially paving the way for a rally towards the 24,600 mark. On the downside, the 23,700–23,600 region continues to be the key support zone, and only a decisive break below this range would weaken the current bullish structure. The preferred strategy remains buying on dips as the broader trend remains firmly positive.
As reported by LiveMint, Bank Nifty extended positive momentum this week by decisively breaking above the crucial 58,000 resistance zone, in line with expectations, but witnessed profit booking near 59,000, resulting in a pullback towards 58,000 by the end of the week. The index is currently displaying a negative divergence on the Daily RSI, indicating that momentum is slowing despite higher prices. Kothari predicts that 57,000–59,000 is likely to remain the key trading range for Bank Nifty going into the coming week. A period of healthy consolidation within this band cannot be ruled out before the next directional move unfolds. A decisive breakout above 59,000 would signal a resumption of the uptrend and open the door for fresh highs, while a break below 57,000 could trigger a phase of short-term corrective action. Until either of these levels is breached, traders should expect range-bound price action while maintaining a positive medium-term outlook on the index.
