Stocks to buy under ₹100: The witnessed a highly volatile week (April 6–10, 2026), but ended with strong gains of 5.5–6%, marking its best weekly performance in over 5 years. The week began on a weak note amid rising crude oil prices, geopolitical tensions over the US-Iran situation, and continued FII outflows. However, sentiment improved mid-week sharply following a ceasefire announcement, a decline in oil prices, and a stable RBI policy, triggering a broad-based rally led by financials, realty, and auto stocks.
Despite a brief phase of profit booking, markets regained strength on Friday, with the index reclaiming the 24,000 mark. Overall, resilience in domestic sectors and easing global concerns helped markets recover strongly, even as external factors like oil prices and global cues remained key drivers.
Stock market outlook
Speaking on the recent stock market rally, Mehul Kothari, Deputy Vice President — Technical Research at Anand Rathi, said the sharp ~6% rally in the Nifty 50 now appears to be more than just a relief bounce, as the index has decisively broken above the crucial 23,100–23,400 resistance zone and sustained near 24,000 levels, indicating that a durable bottom is likely in place and the market has potentially entered the early phase of the next uptrend.
“On the levels front, we expect Nifty to retest the 24500–24800 zone in the near term, which coincides with the placement of the 200-day EMA on the upside and may act as an immediate resistance band. While some near-term consolidation or a pullback towards the 23600–23200 zone (gap-fill area) cannot be ruled out, such dips should be viewed as buying opportunities rather than signs of weakness, as the broader structure has turned constructive with improving momentum and participation,” Mehul Kothari of Anand Rathi said.
Kothar said the Nifty 50 hourly chart is now showing negative RSI divergence, indicating early signs of momentum exhaustion and increasing the probability of a short-term pullback. On the downside, 23600 acts as the first support (gap zone), followed by a stronger support near 23200, which should act as a buy-on-dips zone if tested.
On the outlook of the Bank Nifty index, Mehul Kothari said the index staged a phenomenal recovery, rebounding from lows near 50,000 to retest the 56,000 mark, translating into a ~10% sharp recovery. On the upside, the index is now approaching a key hurdle around 57,000, which coincides with the placement of its long-term moving averages and is likely to act as a resistance zone.
Mehul Kothari’s stock recommendations today
Regarding on Monday, Mehul Kothari of Anand Rathi recommended these three buy-or-sell stocks: Network18, Motherson Sumi Wiring India, and Suzlon Energy.
1] Network18: Buy in the ₹32 to ₹31 range, Target ₹37 to ₹39, Stop Loss ₹29;
2] Motherson Sumi Wiring India: Buy in the ₹39 to ₹37 range, Target ₹43 and ₹48, Stop Loss ₹35; and
3] Suzlon Energy: Buy in the ₹44 to ₹42, Target ₹49 and ₹55, Stop Loss ₹38.
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.