Diawa Shimano any brand

Just rod or rod and reel ????

Reel only 

I would suggest the Shimano Miravel - but in Canadian dollars it's around $190, while I've paid as little as $97 American,

 

So - Shimano Nasci at around $145 CAD - I have one and while it's not as smooth as my Miravels or Ultegra, it's not a bad reel.

Amazon-Japan or JDAM sites offer a good discount.

Shimano Miravel series 2500 is $93USD shipped Prime.

ShimanoNASI 2500 is $89USD shipped Prime.

Tom

The Shimano Nasci was mentioned and I will second that reel for your price point. Agreed it is not as smooth as others (I’ve come to really love the Vanford in the mid-range price) but I have the Nasci on my rod used for wacky worms and finesse jigs etc and have had no issues handling 4+ pound fish. 
 

Another option that might be a little above your price range is the Abu Garcia Revo SX. Also not quite as smooth as mid range and high end reels but it is a little better than the Nasci and handles them just fine as well. 
 

I would not hesitate to purchase either of those two reels again if given the option.  

Nasci is legit. Won't disappoint for drop shot fishing at that price.

In all fairness I don't think you could buy a spinning reel in that price range that would not be excellent for drop-shotting. 

For the budget-conscious, Nasci isn't a bad option, but if you're looking for smoother performance, Miravel is the way to go. 👌

I started off with the Daiwa Procyon AL in the 2500 size.  it was glued to my hands in the early days when I learned how to dropshot.   I still have it.   super reliable.  I take it to Oklahoma and haul in giant stripers with it.    fun.  I think I paid $150 for it...twice.  (it does sink with a Phenix rod..rather quickly)

Daiwa Legalis is around the $100 mark

I have a couple of them in the 2500XH. Light weight and smooth drag. 
The XH is 6.2:1 vs 5.2:1 on the regular LT model

I have a 4000 series NASCI. Miravel is notably nicer, feels smoother and lighter (though I realize it's a bit of apples to oranges with the different sizes). Ultregra is also nice. I don't see much difference between the latter two, I think the Miravel is lighter, a good quality for a finesse reel.

Used Ci4+

I have the nasci at 100 USD 

I've caught 60+ fish on it with zero problems. None heavier than 3 lbs. though.