Stocks to buy or sell: The Indian stock market closed higher on Friday, driven by gains in banking heavyweights such as ICICI Bank, HDFC Bank, and Axis Bank.
Benchmark indices stayed in the green throughout the session, although upside was limited due to elevated crude oil prices and growing inflation concerns, which raised fears of possible monetary tightening.
The Sensex settled at 75,415.35, gaining 232 points or 0.31%, while the Nifty 50 closed at 23,719.30, up 65 points or 0.27%.
“The Indian equity markets witnessed a range-bound yet positive week, reflecting cautious optimism among investors. The NIFTY 50 closed at 23,719, gaining 0.32% on a weekly basis, while the NIFTY Bank ended at 54,055, up 0.64%. On the global front, investor sentiment remained largely influenced by geopolitical developments, particularly the ongoing ceasefire discussions between the United States and Iran.
Expectations of a possible diplomatic resolution supported global risk appetite, while market participants continued to closely monitor further developments. A constructive outcome could provide additional stability to equities and other risk assets, whereas any negative escalation may trigger heightened volatility across global markets,” said Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi.
Ganesh Dongre’s market outlook for next week
Dongre believes that market sentiment has turned cautiously optimistic, with investors increasingly preferring a buy-on-dips strategy amid improving technical structures.
“The near-term outlook remains highly sensitive to global geopolitical developments, particularly updates related to the ongoing US-Iran discussions. The coming week is expected to be crucial as traders and investors closely monitor global cues, institutional activity, and macroeconomic developments,” he said.
He further advised market participants to remain selective in stock picking, maintain disciplined risk management practices, and stay alert to news-driven volatility, as any escalation or resolution on the geopolitical front could significantly influence the overall market direction.
Nifty 50
On the technical outlook, Dongre said that the Nifty continued to trade within the broad range of 23,300–24,000. Repeated profit booking at higher levels restricted upside momentum, causing the index to close slightly below intraday highs, although it managed to sustain above the crucial 24,000 resistance zone during the week.
“Immediate support for the index is now placed in the 23,000–23,300 range, while the 24,000–24,300 band continues to act as a significant resistance area. Despite near-term volatility, the broader weekly structure remains constructive, supported by a pattern of higher lows that reflects underlying buying interest. A sustained move above 23,800 would be important for confirming trend continuation and could open the path towards the 24,500 level, thereby strengthening bullish momentum further. On the downside, the 23,000–23,500 zone is expected to act as a strong demand area during any corrective phase,” he said.
Bank Nifty
On the Bank Nifty outlook, Dongre added that the index ended the week near the 54,000 mark with modest gains and is gradually approaching a crucial resistance zone between 56,500 and 57,000, which also coincides closely with its 200-day EMA.
“Immediate support for the banking index is seen around the 54,500 region. A decisive breakout above the resistance zone could further reinforce bullish momentum within the banking space and provide additional support to the broader market trend,” he said.
Weekly stocks to buy or sell
Hindustan Zinc: Buy at ₹630, target price of ₹655, stop loss of ₹615.
Max Healthcare Institute: Buy at ₹1020-1030, target price of ₹1070, stop loss of ₹990.
HDFC Bank: Buy at ₹765-770, target price of ₹800, stop loss of ₹750.
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.
