Stocks to buy | Ganesh Dongre's stock recommendations today: The key benchmark indices of the Indian stock market ended the week on a positive note, with the Nifty 50 index gaining nearly 0.44% to close at 22,520, while the Bank Nifty advanced 1.48% to settle at 55,256. Sectoral performance was broadly positive, with most major sectors recording gains in the range of 1–6% during the week. However, the overall market sentiment remains cautious amid elevated geopolitical uncertainties, particularly ongoing US–Iran tensions and broader developments in the Middle East. Rising crude oil prices and higher global bond yields continue to pose challenges for global trade, inflation expectations and overall investor sentiment.
As highlighted in our previous weekly outlook, the Nifty has entered oversold territory following the recent sharp correction. The decline has been driven by a combination of global risk-off sentiment and concerns surrounding the US Federal Reserve’s interest-rate outlook. The possibility of further interest-rate hikes by the Fed and the RBI in the coming quarters remains a key concern for equity markets. Additionally, the upward bias in US 10-year Treasury yields could continue to influence global risk appetite and foreign institutional investor (FII) flows into emerging markets, including India.
Ganesh Dongre, AVP — Equity Research at Anand Rathi, believes the Nifty 50 index faced strong resistance in the 24,500–24,600 zone last month, which also coincided with the broader 200-day EMA resistance area. Subsequently, the index witnessed a sharp decline towards the 22,500–22,000 zone, approaching the lows recorded in March 2026 and a significant support region based on the previous six-month price structure.
“A sustained weekly close above 23,200 would help improve the near-term technical outlook and could open the door for a recovery towards 24,000–24,200, where the 200-day EMA and broader resistance levels are positioned. On the downside, 22,000–21,700 remains a crucial support zone, as it represents a significant historical support area near previous yearly and quarterly lows,” Ganesh Dongre of Anand Ratahi said.
For the upcoming week, Ganesh Dongre of Anand Rathi said, traders should closely monitor the 22,800 and 23,200 levels for signs of improving momentum, while 21,700–22,000 remains an important downside support zone.