Buy or sell: Ganesh Dongre of Anand Rathi recommends three shares to buy on Monday - 29 September 2025

Buy or sell: The benchmark indices — BSE Sensex and Nifty 50 — slipped for the sixth consecutive session on Friday, September 26, as renewed Trump tariffs on pharmaceuticals and continued selling by foreign portfolio investors (FPIs) dampened market sentiment.

The Sensex ended the day 733.22 points, or 0.90%, lower at 80,426.46, while the Nifty 50 dropped 236.15 points, or 0.95%, to close at 24,654.70. For the week, the Sensex declined 2.66%, and the Nifty shed 2.65%.

“The Nifty 50 closed the week lower by 2.85% at 24,654, with broader indices also witnessing profit booking in the range of 3–6%. The sharpest sell-off was seen in technology, pharma, realty, textile, and chemical sectors as markets turned cautious ahead of the upcoming RBI monetary policy meeting,” said Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi.

Weekly market outlook

Nifty 50

Dongre said that Nifty had recently broken above the 25,200–25,300 range and approached 25,500, but heavy profit booking triggered a steep 1,000-point correction, further exacerbated by concerns over U.S. announcements targeting 100 percent tariff on the pharma sector.

“On the technical front, the earlier support zone of 24,300–24,400, which aligns with the 200-day EMA and the 38.2% Fibonacci retracement level, continues to act as a strong base. This dragged the index below the crucial 25,000–25,200 neckline support, extending its decline toward the next support level of 24,600 on the weekly chart. Going forward, sustaining above 24,600 could pave the way for a rebound toward 25,000–25,200, while the key support zone remains at 24,300–24,400 near the 200 DMA,” he added.

Bank Nifty

On the Bank Nifty outlook, Ganesh Dongre of Anand Rathi further added, “Bank Nifty has managed to hold above the 54,000 mark, with broader support seen at 53,500–54,000 and resistance placed at 56,000–57,000. Overall, the market tone remains cautiously optimistic, but a decisive breakout above 25,600 on Nifty and 57,000 on Bank Nifty will be critical to confirm the resumption of upward momentum. Traders are advised to stay selective, disciplined, and closely monitor global cues along with geopolitical developments.”

Weekly stocks to buy or sell

1. National Aluminium Co: Buy at ₹198-202; Stop Loss at ₹190; Target Price of ₹215.

2. Patanjali Foods: Buy at ₹888-592; Stop Loss at ₹580; Target Price of ₹610.

3. Tata Motors: Buy at ₹672-675; Stop Loss at ₹655; Target Price of ₹700.

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.