Mehul Kothari of Anand Rathi identified IDBI Bank, IGL, and CESC as top stocks to buy under ₹200. During the week ended October 30, 2026, the Nifty advanced nearly 2% to 23,053. Kothari said, "For a sustainable, faster and more reliable upside, we need Nifty to move above 23,200."

Stock market prediction: Mehul Kothari of Anand Rathi believes that after an extended period of weak market sentiment, a simultaneous improvement across the benchmark and broader markets is essential to revive confidence

Stocks to buy | Mehul Kothari's stock recommendations under ₹200: During the week ended October 30, 2026, Indian equity markets staged a strong recovery, with the Sensex gaining 1.8% to 74,460 and the Nifty advancing nearly 2% to 23,053. After a subdued start amid elevated crude oil prices, markets rallied on Thursday following the US Federal Reserve's decision to keep interest rates unchanged, which eased oil prices and spurred institutional buying.

Banking, FMCG, Realty, and IT stocks led the recovery, while select earnings also supported sentiment. However, mid- and small-cap participation remained mixed, with crude oil prices remaining a key concern.

Stock market view by Mehul Kothari of Anand Rathi

Mehul Kothari, Deputy Vice President -- Technical Research at Anand Rathi, believes that Friday's session witnessed significant selling pressure in individual stocks, with the Smallcap 100 declining nearly 2%, the Midcap index falling around 1%, and other broader market indices, including Midcap 500, also ending in the red. Most of these indices are struggling around their respective major resistance zones, indicating a lack of broader market participation. Nifty, too, is yet to decisively clear the crucial 23,200 hurdle.

"For a sustainable, faster and more reliable upside, we need Nifty to move above 23,200 along with a corresponding breakout in the broader market indices. After an extended period of weak market sentiment, a simultaneous improvement across the benchmark and broader markets is essential to revive confidence. On the downside, 22,600 remains the immediate support for the coming week, followed by 22,400," Mehul Kothari of Anand Rathi said.

On the outlook for the Bank Nifty index, the Anand Rathi expert said the key benchmark index underperformed the broader index during the week, gaining just around 0.75%. The index recorded a low near 53,600 and attempted to move above the 55,000 mark but failed to sustain above it, eventually closing the week around 54,700.

"We reiterate our view that 53,000 remains a crucial support zone for Bank Nifty, and any decisive break below this level could signal significant weakness in the banking space. On the upside, the index needs to move above its previous swing high of 56,000 to gain meaningful strength and revive bullish momentum," said Mehul Kothari of Anand Rathi.

The technical research analyst at Anand Rathi said the Bank Nifty continues to oscillate within the broad 53,000-56,000 range. Until either of these crucial levels is decisively breached, it would be difficult to expect any meaningful directional momentum in the index.

1] IDBI Bank: Buy at ₹80 | Target ₹85 | Stop Loss ₹78;

2] IGL: Buy at ₹139 | Target ₹145 | Stop Loss ₹135; and

3] CESC: Buy at ₹125 | Target ₹132 | Stop Loss ₹121.