Stocks to buy today: Ganesh Dongre of Anand Rathi recommends three shares to buy or sell

Stocks to buy or sell: Indian benchmark indices ended with modest gains on Thursday, June 25, after surrendering most of their intraday advances amid profit booking at higher levels.

The Sensex rose 109.25 points, or 0.14%, to close at 77,100.47, while the Nifty 50 added 34.35 points, or 0.14%, to settle at 24,056.00. Trading remained shut on Friday as the domestic equity market was closed for the Muharram holiday.

“The Indian equity markets traded in a range-bound manner during the week, with the Nifty 50 closing at 24,056, registering a modest weekly gain of 0.18%. The index managed to sustain decisively above the previous week's low of 23,800, indicating resilience despite intermittent volatility. Benchmark indices ended the week on a positive note, while the Bank Nifty outperformed, gaining 0.05% to settle at 58,177,” said Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi.

Ganesh Dongre's market outlook for this week

Nifty 50

On the Nifty 50 outlook, Dongre believes that the index maintained its upward bias while largely consolidating within the 23,800–24,300 range throughout the week. The index's ability to hold above the crucial 23,800 support level reflects strengthening bullish sentiment and keeps the possibility of further upside intact in the coming sessions. However, some sector-specific profit booking may continue ahead of the month-end expiry, leading to intermittent volatility.

“Immediate support is placed in the 23,800–23,900 zone, while the 24,200–24,300 range remains a significant resistance area. On the broader weekly chart, the index continues to form a pattern of higher lows, highlighting sustained buying interest at lower levels. A decisive breakout and sustained close above 24,600, which coincides with the 200-day EMA, will be crucial to confirm a stronger and more sustainable uptrend. Until then, a buy-on-dips strategy remains favourable. A weekly close above 24,300 would further reinforce the bullish outlook and could pave the way for a move towards 24,600, followed by the psychological 25,000 mark. On the downside, the 23,500–23,600 region is expected to act as a strong demand zone and provide support against any corrective pullback,” he said.

Bank Nifty

Meanwhile, on the Bank Nifty outlook, Dongre added that the index has exhibited notable technical strength after delivering a fresh trendline breakout on the weekly chart. The index has successfully sustained above its key 200-day EMA, reinforcing the positive undertone.

“A sustained move above the 58,000 level would further strengthen the bullish structure and could trigger fresh momentum-driven buying, potentially extending the ongoing rally. Immediate support is placed near the 56,000 zone, which is closely aligned with the 200-day EMA and is expected to act as a strong base during any near-term consolidation. Overall, the technical setup for Bank Nifty remains constructive, and a decisive breakout above 58,000 would further validate the positive trend while lending additional support to the broader market,” said Dongre.

Weekly stocks to buy or sell

Varun Beverages: Buy at ₹508, target price of ₹550, stop loss of ₹490.

NTPC: Buy at ₹352, target price of ₹370, stop loss of ₹340.

Coal India: Buy at ₹435, target price of ₹455, stop loss of ₹425.

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.