Mehul Kothari of Anand Rathi Recommends IRB Infra, MMTC, and CESC as Buy-or-Sell Picks Under ₹200

For IRB Infra, Kothari suggested buying above ₹19.50 with a target price of ₹21 and a stop-loss at ₹18.80. MMTC was recommended for purchase above ₹65, targeting ₹68, with a stop-loss set at ₹63.30. CESC was advised to be bought around ₹167, aiming for a target of ₹180, while placing a stop-loss at ₹160.

Kothari noted that the Nifty 50 index had declined approximately 0.8% to 24,366 during the week, breaking a two-week winning streak, while the Sensex fell nearly 0.6% to around 78,000. The market remained range-bound between 23,800 and 24,400, influenced by US-Iran tensions, fluctuating crude oil prices, and global yield uncertainty, although strong Q1 FY27 earnings provided some support.

He characterised the recent pullback in the Nifty 50 as a healthy retracement rather than a trend reversal, maintaining that the 24,190–24,054 zone represents strong support. Any further correction toward the 50%–61.8% Fibonacci retracement level in that range should be seen as a buying opportunity, with the index expected to regain momentum upon a sustained move above 24,500, potentially paving the way toward 25,000.

On the Bank Nifty, Kothari observed a symmetrical triangle pattern forming, indicating a potential breakout. A sustained move above 58,000 could trigger fresh buying and push the index toward 59,000–59,500, while a decisive breach of the 57,000 support level might prolong consolidation and keep the index under pressure. He maintained a cautiously bullish outlook for Bank Nifty as long as the broader structure remains intact.

The recommendations and views expressed are those of the analyst and not of Mint. Investors are advised to consult certified financial advisors before making investment decisions.