Castrol India, NHPC, Vikram Solar
Anand Rathi’s Mehul Kothari Recommends Castrol, NHPC, Vikram Solar Under ₹200
Mehul Kothari, Deputy Vice President — Technical Research at Anand Rathi, has recommended three stocks under ₹200 for investors: Castrol India, NHPC, and Vikram Solar. The recommendations come amid a weak market trend, with the Nifty extending its losing streak to six consecutive weeks—the longest since 2020. The benchmark index fell 0.22% to 23,346.40 during the holiday-shortened week ending September 18, while the Sensex declined 0.65% to 74,294.96.
Kothari noted that the Nifty may test the 23,000 level as a key support zone, which he views as the likely extent of the current correction. He added that a move above 23,700 could signal easing selling pressure, with a stronger recovery requiring a reclaim of 24,500. Technical indicators suggest the selling momentum may be stretched, with the daily RSI at recent lows and hourly charts showing signs of a possible selling climax.
For Bank Nifty, Kothari identified 55,500 as the immediate and crucial support level, warning that a weekly close below this could intensify selling pressure. He sees 57,000 as the key resistance level, with a sustained move above it indicating a potential shift toward stability.
The stock-specific targets and stop-losses are as follows: Castrol India at a target of ₹210 with a stop-loss at ₹190; NHPC at a target of ₹81.50 and stop-loss at ₹74.50; and Vikram Solar at a target of ₹174 and stop-loss at ₹161. Kothari urged investors to exercise patience during volatile phases, noting that sharp swings often occur when sentiment is weakest.
The views expressed are those of the analyst and not of Mint. Investors are advised to consult certified experts before making investment decisions.
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