Stocks to Buy Under ₹200: Mehul Kothari Recommends 3 Shares

After a volatile yet positive week in the Indian stock market, attention is shifting toward selective stock picking rather than broad index momentum. Despite short-term resistance near key levels, market structure remains bullish, creating opportunities in mid- and low-priced stocks. In this setup, Mehul Kothari of Anand Rathi has identified three stocks under ₹200 that offer strong technical setups and favorable risk-reward positioning.

The Nifty 50 recently rebounded from the 23,500 zone to close above 24,300, supported by short covering and improving sentiment. However, early signs of negative divergence on hourly charts suggest that momentum could slow in the near term. This creates a tactical environment where “buy on dips” becomes the dominant strategy rather than chasing breakouts at higher levels.

Market Outlook: Key Levels to Watch

The broader market continues to show strength, but resistance zones are becoming critical decision points for traders.

• Nifty resistance zone: 24,300 to 24,500
• Immediate support zone: 23,600 to 23,700
• Bank Nifty resistance: 57,200 to 57,500
• Bank Nifty support: 56,000

Data suggests that the market is entering a consolidation phase after a sharp rally. This leads to stock-specific opportunities, which results in higher alpha generation for traders focusing on individual setups rather than index direction.

Top 3 Stocks Under ₹200 to Buy Today

1. IRB Infrastructure Developers

IRB Infrastructure is a leading player in the road and highway development sector, operating BOT and HAM projects across India. The company benefits from long-term infrastructure spending and toll-based revenue models.

• Buy above: ₹22.75
• Target: ₹25
• Stop Loss: ₹21.60

Technical View: The stock is showing strength near breakout levels with improving volume participation. A move above ₹22.75 can trigger fresh buying momentum supported by infrastructure sector tailwinds.

2. GMR Airports

GMR Airports operates major airport assets in India and internationally, including Delhi and Hyderabad airports. The company benefits from rising air travel demand and infrastructure expansion.

• Buy at: ₹95
• Target: ₹101
• Stop Loss: ₹92

Technical View: The stock is trading in an uptrend with higher highs and higher lows. Strong passenger traffic growth and improving operational metrics are supporting bullish sentiment.

3. Mangalore Refinery and Petrochemicals Limited

MRPL is a key refinery player under the ONGC group, engaged in petroleum refining and petrochemical production. The stock often reacts to crude price movements and refining margins.

• Buy at: ₹178
• Target: ₹198
• Stop Loss: ₹168

Technical View: The stock is showing bullish momentum with strong price structure. Stability in crude prices and improving refining margins act as key triggers for further upside.

Stock Comparison Table

Stock	Sector	Key Trigger	Risk Factor	Technical Setup
IRB Infrastructure	Infrastructure	Govt spending, toll growth	Execution delays	Breakout zone
GMR Airports	Aviation Infra	Passenger growth, expansion	Debt levels	Strong uptrend
MRPL	Oil & Gas	Refining margins	Crude volatility	Momentum bullish

Strategy: How to Trade These Picks

• Focus on buying near support or breakout levels
• Maintain strict stop losses to manage volatility
• Avoid over-leveraging in a consolidating market
• Track global cues like crude oil and geopolitical developments

The current market phase rewards disciplined execution rather than aggressive positioning. Stocks under ₹200 often provide better percentage upside, but they also require tighter risk management.

Final Take

The market is transitioning from a broad rally to a more selective phase, where stock-specific strategies dominate. Mehul Kothari’s picks highlight opportunities in infrastructure, aviation, and energy sectors, all of which are aligned with macro trends. Traders who combine technical discipline with sectoral understanding are likely to benefit the most in this environment.

Which are the best stocks under ₹200 to buy today

IRB Infrastructure, GMR Airports, and MRPL are among the top picks under ₹200 based on technical strength and sectoral tailwinds identified by market experts.

What is the best strategy in a volatile market

A buy-on-dips approach with strict stop losses is considered effective, as markets are showing consolidation near resistance levels while maintaining an overall bullish trend.

Are low-priced stocks riskier than high-priced stocks

Low-priced stocks can offer higher percentage returns but may carry higher volatility. Proper risk management and technical confirmation are essential before investing.