Archive · 4 Oct 2026
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.
- When
- The recommendations were for Monday; the article describes the market's performance over the preceding week.
- Where
- India's equity markets.
- 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.
- 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.