Buy or sell: Ganesh Dongre of Anand Rathi recommends three stocks to buy on Monday - 22 December 2025

Buy or sell: Snapping four-day decline, the Indian stock market ended on a higher note on Friday, December 19, led by a steady rupee, upbeat global cues, and a Bank of Japan policy outcome in line with expectations.

The Sensex surged 448 points, or 0.53%, to finish at 84,929.36, while the Nifty 50 gained 151 points, or 0.58%, to settle at 25,966.40. Broader markets outperformed, with the BSE Midcap index rising 1.26% and the Smallcap index advancing 1.25%.

Reliance led the gains on the Sensex, with HDFC Bank contributing next.

Meanwhile, the total market capitalisation of BSE-listed companies surged to over ₹471 lakh crore from ₹465.8 lakh crore in the previous session, boosting investor wealth by more than ₹5 lakh crore in a single day.

“The Nifty 50 ended the week on a mildly weak note, slipping 0.45% to close at 25,966. Despite the marginal decline in the benchmark, sectoral performance remained encouraging, with the telecom sector leading the rally by gaining nearly 1%. Pharma and FMCG stocks also posted notable advances, reflecting broad-based buying interest across key segments of the market and indicating underlying strength beneath the headline index movement,” said Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi.

Ganesh Dongre's market outlook for next week

Nifty 50

Dongre believes that Nifty continues to hold comfortably above its previous support zone of 25,600–25,700, which marked last week’s low, from a technical perspective.

“Fresh support is now placed in the 25,500–25,600 range, while immediate resistance is seen between 26,100 and 26,300. Derivatives data further reinforces this view, with the highest Call open interest concentrated at the 26,000 and 26,500 strikes, indicating strong overhead resistance. On the downside, significant Put open interest at 25,800 and 25,500 highlights a solid support base. Any corrective move towards the 25,800–25,500 zone could therefore offer favourable stock-specific buying opportunities,” Dongre said.

Bank Nifty

Meanwhile, on the Bank Nifty outlook, Dongre said that the banking index continued its sideways momentum during the week, supported by steady recoveries in private sector banks.

“The index remains well placed above the key support band of 57,500–58,000, while major resistance is seen in the 60,000–60,500 zone, suggesting consolidation within a defined range,” he added.

Overall market outlook

Dongre further went on to say that as long as Nifty sustains above 25,600 and Bank Nifty holds above 58,000, the broader market structure is expected to remain positive to constructive.

“With Nifty facing resistance in the 26,300–26,500 zone and Bank Nifty encountering an upper hurdle near 61,000, traders are advised to adopt a disciplined buy-on-dips strategy in selective stocks, while closely monitoring global cues and geopolitical developments for clearer directional signals,” he said.

Weekly stocks to buy or sell

Aurobindo Pharma: Buy at ₹1220-1230; Target Price of ₹1270; Stop Loss at ₹1180.

IndusInd Bank: Buy at ₹840-845; Target Price of ₹880; Stop Loss at ₹820.

Bharat Forge: Buy at ₹1440-1450; Target Price of ₹1500; Stop Loss at ₹1400.

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.