Aniket PujariStocks to buy under ₹100: The Indian stock market saw a volatile but positive week from February 1 to February 6, 2026, as the Nifty 50 index navigated sharp swings driven by the Union Budget, the India–US trade deal announcement, global tech sector concerns over AI disruption, and the RBI’s monetary policy decision. The week began with a sharp fall on Budget Day, with the Nifty 50 slipping nearly 2% to around 24,825 after higher STT on F&O and other fiscal measures dampened sentiment.
However, the Indian stock market rebounded strongly on February 2–3 following the news of the India–US trade deal, which eased Trump’s tariff concerns and triggered broad-based buying, pushing the Nifty 50 index above 25,700. Later in the week, profit-taking and heavy pressure on IT stocks amid global AI-related sell-offs kept volatility high. Despite this, the Nifty 50 index recovered to close the week at 25,693.70, marking its best weekly performance in three months, supported by strength in FMCG, realty, metals, and domestic-focused sectors.
Stock market outlook
Speaking on the outlook of the Nifty 50 today, Mehul Kothari of Anand Rathi said, “After the strong rebound from the 24,500 base zone, Nifty attempted to sustain above the recent recovery high but faced selling pressure near the 25,900–26,000 resistance zone. The index has now slipped back into a short-term corrective and consolidation phase, indicating exhaustion after the sharp post–India-US trade deal rally. On the downside, 25,450 remains a crucial pivot. A decisive break below this level may open the door for a gap-fill move towards 25,100, followed by the broader demand zone of 24,800–24,500, where strong buying interest is expected to emerge again. As long as this lower band holds, the medium-term structure continues to remain constructive.”
“On the upside, Nifty is likely to face stiff resistance in the 25,900–26,400 zone, which coincides with recent swing highs and supply pressure. Only a sustained move above this zone would revive bullish momentum and signal the next leg of directional upside. Overall, the index is now in a range-bound phase, where stock-specific and sector-specific opportunities are expected to outperform the headline index. Traders should adopt a cautious approach near resistance levels and look for buying opportunities only near strong support zones, while waiting for a clear breakout or breakdown for the next meaningful trend,” said Mehul Kothari.
On the outlook of the Bank Nifty index, Mehul Kothari of Anand Rathi said, “The Bank Nifty witnessed a sharp rebound from the 58,000 base and extended its rally to make a fresh high near 61,700 on the back of positive sentiment driven by the India–US trade deal confirmation. However, as highlighted earlier, the long-term rising trendline resistance remains a tough hurdle for bulls, and the index has once again slipped back towards the 60,000 zone, indicating hesitation at higher levels. A sustained breakout and fresh momentum will only emerge on a decisive move above 62,000, which would signal a new leg of the uptrend.”
The Anand Rathi expert said the Bank Nifty index is likely to remain in a consolidation phase with a neutral-to-positive bias for banking stocks. On the downside, immediate support is placed near 59,000, which coincides with the recent gap area and acts as a crucial short-term demand zone. As long as Bank Nifty holds above this support, the broader structure remains constructive, but traders should remain selective and wait for confirmation above resistance before positioning aggressively.
Stocks to buy under ₹100
Regarding stocks to buy under ₹100, Mehul Kothari of Anand Rathi recommended these three shares to buy or sell: IRB Infrastructure Developers, IFCI, and Embassy Developments.
1] IRB Infrastructure Developers: Buy at ₹43, Target ₹48, Stop Loss ₹40.50;
2] IFCI: Buy at ₹60, Target ₹74, Stop Loss ₹53; and
3] Embassy Developments: Buy at ₹68, Target ₹80, Stop Loss ₹62.
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.
