Stocks to buy or sell: The Indian stock market wrapped up the week on a positive note, extending their rebound despite ongoing geopolitical tensions, higher crude oil prices, and lingering uncertainty over the global interest-rate trajectory.
Market sentiment remained positive, supported by strong Q1 FY27 earnings from the IT sector, with TCS ending the week up nearly 10%. Fresh buying in financial stocks and resilient domestic economic fundamentals also lifted investor confidence. However, overall gains were capped as markets continued to factor in the impact of higher energy prices, a weaker currency, and ongoing geopolitical developments in West Asia.
As a result, the benchmark indices registered solid weekly gains. The Nifty 50 climbed nearly 0.53% to end at 24,334.30, while the Sensex rose about 0.75% to close at 78,151.45.
Stock market next week
Nifty 50
Nifty 50 ended the session at 24,334.30, gaining 261.55 points (+1.09%), after a strong broad-based rally. The index opened on a firm note and maintained positive momentum throughout the session, consistently forming higher highs and higher lows before closing near the day’s high. The sharp recovery indicates renewed buying interest, with sustained strength across large-cap stocks lifting overall market sentiment.
According to Sumeet Bagadia, Executive Director at Choice Broking, Nifty formed a strong bullish candle on the daily chart and reclaimed the key 24,300 zone, while also closing above its short-term moving averages, reflecting improving price structure. The index is now approaching the crucial resistance zone near 200-Day EMA, where a decisive breakout could trigger further upside momentum. Sector-wise, Private Banks, Financial Services, Auto, IT and Realty led the advance, whereas Pharma and Healthcare witnessed profit booking. The RSI strengthened to 58.48, indicating improving bullish momentum, while the MACD remained above the signal line with a rising histogram, signalling strengthening positive momentum.
“In the derivatives segment, the PCR improved to 1.13, reflecting a bullish undertone. Significant Call Open Interest is placed at 24,300–24,500, while Put Open Interest remains concentrated at 24,300–24,200, indicating a strong support base. Immediate support is seen at 24,150–24,200, while 24,500–24,550 remains the next key resistance zone,” said Bagadia.
Bank Nifty
Bank Nifty witnessed a strong rebound, ending the session at 58,521.40, up 939.15 points (+1.63%). After opening with a positive bias, the index extended its gains throughout the day, supported by sustained buying across heavyweight private banking stocks. It is now approaching the previous swing-high zone and closed near the day’s high, reflecting broad-based strength. Federal Bank, Kotak Bank, and ICICI Bank emerged as the key contributors, driving the rally in the banking index.
On the Bank Nifty outlook, Bagadia added, “ The index has formed a strong bullish candlestick, confirming a decisive breakout above the recent consolidation range and strengthening the ongoing uptrend. The index is trading comfortably above its key moving averages, highlighting improving momentum and robust buying interest. Support is placed at 58,000–58,100, while 58,800–59,000 remains the immediate resistance zone. A sustained move above this hurdle could extend the rally further, while the support zone is expected to attract buying on any near-term dip.”
Stocks to buy
Sumeet Bagadia has recommended three stocks to buy on Monday, 20 July. The three stock picks by Bagadia are – Fineotex Chemical, NHPC, and IDFC First Bank.
1] Fineotex Chemical: Buy at ₹38.75 | Target Price: ₹42.50 | Stop Loss: ₹37
2] NHPC: Buy at ₹79.20 | Target Price: ₹86 | Stop Loss: ₹75.80
3] IDFC First Bank: Buy at ₹80.35 | Target Price: ₹87.50 | Stop Loss: ₹76.50
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.
