5 hrs ago
Dongre Recommends HDFC Bank, Infosys and BEL Shares
The Indian stock market had a difficult week and major indexes fell.
Ganesh Dongre, an analyst at Anand Rathi, said the Nifty may be oversold after the drop.
He pointed to 22,000–22,200 as an important support area for the Nifty.
He also said the market could remain bumpy in the coming weeks.
Dongre recommended three stocks: HDFC Bank, Infosys and BEL.
He gave a suggested buying range, a price target and a stop-loss for each.
These are his views, not a promise that the stocks will rise.
Ganesh Dongre of Anand Rathi recommended buying HDFC Bank, Infosys and BEL.
His suggested HDFC Bank entry range is ₹710–₹720, with a ₹760 target and ₹680 stop-loss.
For Infosys, Dongre suggested an entry at ₹1,020–₹1,040, a ₹1,180 target and a ₹980 stop-loss.
For BEL, he suggested an entry at ₹390–₹395, a ₹410 target and a ₹380 stop-loss.
Dongre described the Nifty as oversold after a sharp weekly decline, with 22,000–22,200 as a key support zone.
- Who
- Ganesh Dongre, Assistant Vice President — Equity Research at Anand Rathi.
- What
- He recommended HDFC Bank, Infosys and BEL, and gave technical outlooks for the Nifty 50 and Bank Nifty.
- Where
- India's equity markets.
- When
- The recommendations were for Monday; the article describes the market's performance over the preceding week.
- Why
- Dongre cited the market's sharp correction and oversold conditions, while also noting global risk concerns, including US–Iran tensions, rising crude prices and higher bond yields.
Key facts
- HDFC Bank recommendation
- Buy at ₹710–₹720; target ₹760; stop-loss ₹680.
- Infosys recommendation
- Buy at ₹1,020–₹1,040; target ₹1,180; stop-loss ₹980.
- BEL recommendation
- Buy at ₹390–₹395; target ₹410; stop-loss ₹380.
- Nifty 50 weekly close
- 22,421, down nearly 3.11% for the week.
- Bank Nifty weekly close
- 54,450, down 2.03% for the week.
- Nifty support and resistance
- Support at 22,000–22,200; resistance at 23,500–23,600. A sustained weekly close above 23,000 could open the possibility of a recovery toward 23,800–24,200.
- Bank Nifty levels
- Major support around 52,700; resistance at 56,000–56,500. Its 200-day EMA was around 56,400.
Quotes
Ganesh Dongre
Assistant Vice President of Equity Research at Anand Rathi
“On the downside, 22,000–22,200 remains an important support zone, as this region represents a previous significant support area. Given the sharp correction and oversold conditions, the market could witness bouts of volatility followed by sideways consolidation in the coming weeks.”
livemint.com
“A decisive and sustained breakout above 56,500 would strengthen the near-term technical structure and could indicate the possibility of a recovery towards higher levels. Until such a breakout occurs, volatility and selling pressure at higher levels cannot be ruled out.”
livemint.com
Sources
Related news
Motilal Oswal’s Taparia Recommends Three Stocks to Buy
Sumeet Bagadia names three stocks under ₹100 with targets
Sumeet Bagadia Names Five Breakout Stocks With Targets
Bagadia recommends Axis Bank, Dr Reddy’s Labs and Indus Towers
Vaishali Parekh Recommends Three Stocks Amid Market Selloff
SMIFS highlights largecap stocks amid prolonged market weakness
HDFC Securities Names IT Stocks Ahead of Q2 Results
Branch Closing or Shifting? What Bank Customers Should Know
Indian IT Firms Face Another Muted Quarter Amid Uncertainty
Jefferies Names HDFC Bank Top Pick After CEO Appointment
