Buy or sell: ganesh dongre of anand rathi recommends three stocks to buy on Monday - 16 June 2025

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Buy or sell: This week, Indian Equity Markets Witable Profit Booking towards the end, largely influenced by escalating geopolitical tensions between ran and israel. After consolidating within the 24,500–25,200 range, the nifty ended the week with a modest decline, closing 368 points lower at 24,718.

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Despite the global uncertainty, nifty managed to hold Above the key 24,500 support level, demonstrating resilience. However, Market Volativity surged sharply, with the India vix rising by 8%, closing at 15.08 for the week.

In our previous outlook, we highlighted the 25,200–25,300 zone as a crucial technical resistance area. This zone corresponds to the 78.6% Fibonacci retracement of the broader market correction and remains a significant Barrier for Bulling Continuation.

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Technical analysis

Technically, as long as the index sustains Above the 24,000–24,500 range, which aligns with the 50% retracement zone, the market undertone remain strong.

A Breakdown Below 24,000 Could Signal A Potential Short-TORM Top. Convercely, Consistent Closing Above The 24,000-24,500 zone on a weekly and monthly Basis would strengthen bullyn bullyn bulish products, open towed the path toward the 25,600 level in the coming weeks.

A Sustainable Breakout Above 25,200–25,300 remains essential to trigger a fresh leg of bullystum. Until then, a cautious and stock-specific approach is advised, especially given the heightened geopolitical risk.

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Bank nifty outlook

Bank nifty also decided seling pressure, declining by approximately 2% over the week. The Index Closed Near Its Key Support Level at 55,500. Immediate support is now placed at 55,000-54,800, which aligns closely with the 100% retracement level of the recent move, While Resistance is Observed Near the 57,000 Mark.

Looking ahead, if bank nifty manages to hold Above The 55,000 Level, A Recovery Towards 57,000–57,500 is possible. However, unless a strong breakout and close Above 57,000 is Seen, traders should maintain a cautious stance.

Conclusion

Both nifty and bank nifty have managed to close about their respective monthly support levels – nifty: 23,600 and bank nifty: 54,000

However, Immediate Resistance at 25,200–25,300 for nifty and 57,000 for bank nifty will play a Pivotal Role in Defining The Near-Term trend.

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Stocks to buy

1. Bharat Electronics Ltd (BEL): Buy at 390–395; Target price at 420; Stop Loss at 375.

2. CESC LTD (CESC): Buy at 163–164; Target price at 180; Stop Loss at 156.

3. Indian Bank Ltd (indianb): Buy at 620–625; Target price at 650; Stop Loss at 610.

Disclaimer: The views and recommendations about individual analysts or broking companies, not mint. We Advise Investors to Check With Certified Experts Before Making Any Investments Decisions.

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