Stocks to buy or sell: dharmesh shah of icici sec sugges buying larsen & toubro shares tomorrow - 23 June 2025

Stock Market Today: The Indian Stock Market Experienced A Significant Upswing on Friday, as Benchmark Indices Finished Notable Higher, Driven by Widespread Purchasing Across Various and Stotong Investor Confidence.

The sensex rose by 1,046.30 points, closing at 82,408.17, while the nifty 50 increase by 319.15 points, Finishing the day at 25,112.40. Among the constituents of the nifty 50, 44 stocks closed in positive territory, with only 6 in decline, highlighting the overall strength of the market.

Dharmesh Shah, Vice President at ICICI Securities, said nifty 50 looks poised for a breakout from five weeks of consolidation (25,200-24,500) that would open the next the Door for 25,500 in Comeing Weeks.

Shah has recommended one stock to buy for short-term. Here’s what he expects from Indian Stock Market Next Week, Along with his stock recommendation.

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Market Outlook by Dharmesh Shah, Vice President, ICICI Securities

Equity Benchmark Gained ~ 1.5% and Settled the Session at 25,112, Outpacing Midcap Index (-0.5%), and also Fare Fared Well Against Developed Markets. Sectorly, Rate Sensitives registered Momentum Led by Financials, Auto. Meanwhile, Pharma Underwent Profit Booking after Announcement of Possible Tariff by Us. The weekly price action will be formed a bull candle confined with Week’s Trading Range, Indicating Prolong Consolidation.

Over Past five weeks nifty 50 has been consolidating in 700 points range wherein it managed to Defend the 24500 on Multiple Occasions Despite Escalated GEOPOLITICAL ISSUESUEs. Further, Index Heavy Weights Regained Upward Momentum as RBI Easeed Project Financing Norms that Boosted Market Sentimen.

We believe, nifty 50 has been formed a higher bottom Above 50-day ema (24,480) and looks poised for a breakout from five weeks of consolidation (25,200-24,500) That WOLD OPON OPEN THE OPEN THE OPEN THE OPEN THE OPEN DON DON THE Consolidation (25,200-24,500) Weeks. Meanwhile, 24,500 would continue to as key support zone. In the process, bouts of valatily opening to geopolitical concerts as well as monthly expiry week cannot be rled out.

Hence, any Dip from hereon should be capitalized as incremental buying options in a quality stock.

Past four decades, Six Major Geopolitical Escalations Suggesst that Index Forms A Major Bottom Once the Anxiety Around the Geopolitical Event Settles Down. And investment in such a panic like Scenarios with a long-term mind Hence, we Advise Dips Should Be Capitalized to Build Quality Portfolios from Medium to long term percent.

The index is witnessing shallow retracement as over past five weeks it has Merely Corrected 3% of Preceding Six Week’s Rally (15%), Indicating Robust Price Structure THET HAS HAS HALPED TOOL Overbough conditions and set the stage for next leg of up move.

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On the broader market front, the nifty midcap index has taken a breather after 28% rally off april low and now approaching lower band of rainl that channel that coincided with 50 days ema. In addition to that, SINCE AARIL LOW, Midcap Index Has Not Corrected> 6% While on the Weekly Chart it has not Closed Below Its Previous Week’s Low. In Current Scenario, Despite Ongoing Volatily, Midcap Index has been maintaining the same rhythm. Thereby we expect index to find its it is 50 days 50 days ema and stage a gradual recovery

1. Development of Geopolitical Issues

2. Brent Crude is Houvering at Immediate Hurdle of $ 78. Lack of Follow Through Strength Bold Result Into Consolidation in 78-66 range

3. Further Weakness in Us Dollar Index

4. Bilateral Trade Agreement Between India and Us

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Stocks to buy this week – dharmesh shah

Dharmesh Shah of ICICI Securities Recommends Buying Larsen & Toubro Shares this Week.

Buy Larsen & toubro shares (l & t) in the range of 3,420–3,660. He has l & t share price target of 3,928 with a stop loss of 3,264.

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Disclaimer: The Research Analyst or His Relatives or I-Sec do not have actual/beneficial owners Interest and do not have any material conflict of interest.

The views and recommendations provided in this analysis are that of individual analysts or broking companies, not mint. We Strongly Advise Investors to Consult With Certified Experts Before Making Any Investments Decisions, as Market Conditions Can Change Rapidly and Individual Circumstances May Vary.

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