Stocks to buy | Ganesh Dongre’s stock recommendations today: The key benchmark indices of the Indian stock market ended the week on a positive note, with the Nifty 50 index gaining nearly 0.44% to close at 22,520, while the Bank Nifty advanced 1.48% to settle at 55,256. Sectoral performance was broadly positive, with most major sectors recording gains in the range of 1–6% during the week. However, the overall market sentiment remains cautious amid elevated geopolitical uncertainties, particularly ongoing US–Iran tensions and broader developments in the Middle East. Rising crude oil prices and higher global bond yields continue to pose challenges for global trade, inflation expectations and overall investor sentiment.
As highlighted in our previous weekly outlook, the Nifty has entered oversold territory following the recent sharp correction. The decline has been driven by a combination of global risk-off sentiment and concerns surrounding the US Federal Reserve’s interest-rate outlook. The possibility of further interest-rate hikes by the Fed and the RBI in the coming quarters remains a key concern for equity markets. Additionally, the upward bias in US 10-year Treasury yields could continue to influence global risk appetite and foreign institutional investor (FII) flows into emerging markets, including India.
Ganesh Dongre’s stock market view
Ganesh Dongre, AVP — Equity Research at Anand Rathi, believes the Nifty 50 index faced strong resistance in the 24,500–24,600 zone last month, which also coincided with the broader 200-day EMA resistance area. Subsequently, the index witnessed a sharp decline towards the 22,500–22,000 zone, approaching the lows recorded in March 2026 and a significant support region based on the previous six-month price structure.
“A sustained weekly close above 23,200 would help improve the near-term technical outlook and could open the door for a recovery towards 24,000–24,200, where the 200-day EMA and broader resistance levels are positioned. On the downside, 22,000–21,700 remains a crucial support zone, as it represents a significant historical support area near previous yearly and quarterly lows,” Ganesh Dongre of Anand Ratahi said.
For the upcoming week, Ganesh Dongre of Anand Rathi said, traders should closely monitor the 22,800 and 23,200 levels for signs of improving momentum, while 21,700–22,000 remains an important downside support zone.
Speaking on the outlook for the Bank Nifty today, Ganesh Dongre said the key benchmark index witnessed significant selling pressure during the recent correction and continues to trade below its 200-day EMA, positioned around 56,300. The index is currently trading below this crucial technical level, with the next major support placed near 51,500-53,000. On the upside, the 56,000–56,500 zone remains an important resistance area. A decisive, sustained breakout above 56,500 would strengthen the near-term technical structure and could signal a recovery towards higher levels.
“Overall, both the Nifty and Bank Nifty remain in a cautious technical phase despite the recent weekly recovery. Although oversold conditions could trigger intermittent relief rallies or technical rebounds, the broader market structure remains under pressure,” Ganesh Dongre said.
Ganesh Dongre’s stock recommendations today
Regarding stocks to buy on Monday, Ganesh Dongre of Anand Rathi recommended buying these three shares: Bharti Airtel, ITC, and PNB.
1] Bharti Airtel: Buy at ₹1800 to ₹1810 | Target ₹1860 | Stop Loss ₹1760;
2] ITC: Buy at ₹260 to ₹265 | Target ₹285 | Stop Loss ₹245; and
3] PNB: Buy at ₹114 to ₹116 | Target ₹124 | Stop Loss ₹107.
Disclaimer: This story is for educational and informational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified financial experts before making any investment decisions.
