Buy or sell: Ganesh Dongre of Anand Rathi recommends three stocks to buy on Monday — 7 July 2025 | Stock Market News
Buy or sell: The Nifty continued to trade within a well-defined consolidation range of 25,200–25,600 throughout the week, closed at 25461, maintaining this zone despite external pressures.
The index found stability amid rising geopolitical tensions between Iran and Israel, managing to hold above the crucial support zone of 25,000–25,200.
Additionally, it sustained the immediate support near 24,800, which coincides with the 61.8% Fibonacci retracement level of the recent corrective move.
Technical Analysis
From a technical perspective, a sustained close above the 25,000–25,200 zone would signal strong bullish intent, potentially paving the way for an upward move toward 25,600–26,000 levels in the coming weeks.
However, if the index breaches the 24,500 mark, it may trigger a short-term pause or mild correction, especially given the current global uncertainties.
Bank Nifty Outlook
Bank Nifty ended the week on a strong note, closing at 57,031. The index continues to display strength and now faces immediate resistance at 58,000, with solid support seen near 56,000.
A decisive breakout above 58,000 could initiate a fresh uptrend, targeting the 58,500–59,000 levels. On the downside, any dip toward the 56,000 level is likely to witness buying interest. Long positions are actively building up in PSU banks such as SBI, PNB, and Canara Bank, while private banks like Axis Bank, HDFC Bank, and ICICI Bank also show accumulation. This reinforces a ‘buy-on-dips’ strategy for Bank Nifty in the near term.
Market Strategy & Key Levels
On a broader timeframe, both Nifty and Bank Nifty ended the week above their respective monthly support levels—23,800 for Nifty and 54,000 for Bank Nifty—indicating a continuation of the prevailing bullish sentiment.
For the upcoming week, key levels to monitor include support at 24,800–25,000 and resistance at 25,600 for Nifty, while Bank Nifty holds support at 56,000–56,500 and faces resistance at 58,000.
Traders are advised to remain vigilant to global cues and geopolitical developments, which may influence short-term market direction. While the underlying market trend remains constructive, a breakout above the mentioned resistance levels would confirm the resumption of upward momentum.
Stocks to Buy
1. Axis Bank (AXISBANK): Buy at ₹1,170-1,175; Target Price at ₹1,220; Stop Loss at ₹1,140.
2. Home First Finance Co. India Ltd (HOMEFIRST): Buy at ₹1,350-1,355; Target Price at ₹1,420; Stop Loss at ₹1,315.
3. Tata Chemicals Ltd (TATACHEM): Buy at ₹940-950; Target Price at ₹1,020; Stop Loss at ₹920.
Disclaimer: 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.
