Stocks to buy under ₹200: The Indian stock market showed resilience amid consolidation, with the Nifty 50 index bouncing sharply from key supports near 25,700–25,800 early in the week and repeatedly testing the falling trendline resistance around 26,000. On December 19, the index traded firmly in the 25,950–26,000 zone, gaining nearly 0.5–0.6% intraday, while broader market sentiment improved.
Mid-cap and Small-cap indices outperformed, reflecting a reversal of strength and renewed buying interest following declines, which helped stabilise overall market breadth. The week was characterised by volatile yet constructive price action, with selling pressure getting absorbed at lower levels. The primary trend structure remained intact, and the Nifty ended the week near 25,950 with a marginal change, indicating continued consolidation at higher levels.
Stock market next week
Speaking on the outlook of the Nifty 50 index, Mehul Kothari, Deputy Vice President of Technical Research at Anand Rathi, said, “The Nifty 50 maintains a cautiously bullish technical bias within its ongoing consolidation phase. The index has shown resilience by rebounding from the 25,700–25,800 support zone, which coincides with a rising trendline, and is currently trading near the 25,900–26,000 area. On the upside, a key falling trendline resistance at 26,020–26,080 remains crucial, and a decisive breakout with strong volume would be a significant trigger. Such a move would confirm an emerging inverse head-and-shoulders pattern on the hourly and daily charts, along with a channel breakout, opening up upside targets of 26,300–26,600.”
Mehul Kothari of Anand Rathi stated that the broader market structure remains supportive, with mid-cap and small-cap indices exhibiting reversal patterns and improved participation, indicating underlying strength. Importantly, dips continue to attract buying interest, reinforcing the positive undertone. As long as the 25,600–25,700 zone holds on a weekly closing basis, the primary uptrend remains intact. The larger, multi-year cup-and-handle structure remains valid, favouring a gradual upward bias for the index in the coming weeks.
On the outlook of the Bank Nifty index, Mehul Kothari said, “The Bank Nifty attempted a recovery but continued to face strong supply near the falling trendline resistance around 59,800–60,000. The index remains capped below the upper channel, with repeated rejections indicating weak follow-through buying. Last week’s bounce failed to sustain, and prices have once again slipped into a consolidation zone near 58,800–59,000. As long as the 58,500–58,000 support zone holds, downside risk remains limited; however, upside remains restricted in the absence of a decisive breakout above 60,000–60,500. Overall, Bank Nifty continues to trade in a range-bound structure and is showing relative underperformance versus the Nifty, awaiting clearer directional cues.”
Mehul Kothari’s stock recommendations today
Regarding stocks to buy on Monday, Mehul Kothari of Anand Rathi recommended these three buy-or-sell stocks: UCO Bank, Ircon International, and MRPL.
1] UCO Bank: Buy at ₹28.50, Target ₹31, Stop Loss ₹27.50;
2] Ircon International: Buy at ₹153, Target ₹165, Stop Loss ₹145; and
3] MRPL: Buy at ₹148, Target ₹164, Stop Loss ₹138.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
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