Buy or sell: Ganesh Dongre of Anand Rathi recommends three stocks to buy on Monday - 30 March 2026

Stocks to buy or sell: The Indian stock market witnessed sharp losses on Friday, March 27, with benchmark indices — the BSE Sensex and the Nifty 50 — declining more than 2% each.

The Sensex tumbled 1,690 points, or 2.25%, to close at 73,583, while the Nifty 50 dropped 487 points, or 2.09%, to settle at 22,819.60. Broader markets also remained under pressure, with the BSE Midcap Index falling 2.18% and the BSE Smallcap Index slipping 1.82%.

Both the Sensex and the Nifty 50 extended their losing streak for the fifth consecutive week.

“The Nifty 50 ended the week on a weak note, declining 1.28% to close at 22,819. Despite this overall softness at the index level, buying interest was largely confined to the IT sector, while most other sectors witnessed profit booking. Market sentiment remained under pressure due to persistent global uncertainties, particularly the ongoing geopolitical tensions in West Asia,” said Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi.

Ganesh Dongre's market outlook for next week

Nifty 50

According to Dongre, the index failed to sustain above the crucial trendline support zone of 24,000–24,300 and slipped below the 23,000 mark, indicating weakness.

Going forward, Nifty is attempting to hold near its previous monthly low around 21,700, making the 22,000 level a critical support for the coming weeks. Sustaining above this level could open the door for a potential recovery toward the 23,400–23,800 range. On the downside, immediate support is seen in the 21,800–22,500 zone, which coincides with previous lows of 2025, he noted.

“For the upcoming monthly expiry, Nifty is expected to trade within a broad range of 22,500–23,600. Derivatives data supports this view, with the highest call open interest at the 23,500 and 23,000 strike levels, indicating key resistance, while the highest put open interest at 22,000 and 23,000 suggests strong support,” Dongre said.

Bank Nifty

Bank Nifty also ended the week lower, declining 2.16%, with strong support placed in the 52,000–51,500 zone and resistance in the 54,000–55,000 range.

“Overall, market sentiment remains cautiously optimistic but fragile. A decisive breakout above 24,500 on the Nifty and 56,500 on the Bank Nifty will be crucial to confirm a continuation of the upward trend. Until then, traders are advised to follow a disciplined strategy in selective stocks, while closely monitoring global cues and geopolitical developments for clearer directional signals,” he added.

Weekly stocks to buy or sell

Bharat Electronics: Buy at ₹405-410, target price of ₹440, stop loss of ₹395.

ONGC: Buy at ₹255-260, target price of ₹300, stop loss of ₹265.

Wipro: Buy at ₹185-190, target price of ₹225, stop loss of ₹175.

Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.