1 week ago
Ganesh Dongre Recommends Three Stocks Amid Volatile Indian Markets
Indian share prices had a difficult and changeable week.
Investors were worried about expensive energy, unstable bond markets and geopolitical tensions.
The Nifty 50 fell for seven sessions in a row before ending the week lower.
Ganesh Dongre says the market may move sideways for a while after its earlier rise.
He still believes the longer-term trend is positive.
He prefers buying stocks when prices dip rather than chasing them higher.
His three picks are JSW Steel, Computer Age Management Services and RVNL.
He gave a buying range, a possible target price and a stop-loss level for each stock.
The Nifty 50 fell about 0.47% weekly to 24,252, while the Sensex declined nearly 0.60% to 77,540.83.
The Nifty recorded seven consecutive losing sessions as investors reacted to energy prices, bond-market turbulence and geopolitical uncertainty.
Ganesh Dongre expects consolidation but says the Nifty’s broader medium- to long-term uptrend remains intact.
Dongre recommends buying JSW Steel at ₹1,285–1,295, with a target of ₹1,345 and stop loss at ₹1,265.
He also recommends Computer Age Management Services at ₹450–455 and RVNL at ₹225–228, with targets of ₹470 and ₹240, respectively.
- Who
- Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi, made the recommendations.
- What
- He recommended three stocks and gave technical outlook levels for the Nifty 50 and Bank Nifty.
- Where
- The recommendations concern the Indian stock market.
- When
- The recommendations were for Monday, 24 August 2026, following the reported weekly market performance.
- Why
- Dongre cited technical conditions and said investors were responding to elevated energy prices, global bond-market turbulence and geopolitical uncertainty.
Constructive technical outlook
Cautious market outlook
Broader trend
Constructive technical outlook
Dongre says the Nifty and Bank Nifty retain positive medium-term technical structures, with the Nifty holding its long-term weekly trendline support.
Cautious market outlook
Recent profit booking, sideways consolidation and the Nifty’s difficulty crossing 24,500–24,600 suggest that momentum remains limited in the near term.
Trading approach
Constructive technical outlook
Dongre favors a buy-on-dips strategy because declines may attract buying while broader support levels hold.
Cautious market outlook
Investors face risks from elevated energy prices, higher global borrowing costs, global bond-market turbulence and geopolitical uncertainty.
Breakout potential
Constructive technical outlook
A sustained Nifty close above 24,800 could accelerate the next uptrend leg, while a Bank Nifty breakout above 58,500 could open a path toward 60,000.
Cautious market outlook
Until those breakouts occur, Dongre expects the Bank Nifty to remain in consolidation and says traders should monitor key support levels.
Key facts
- Nifty 50 weekly close
- 24,252; the article reports a weekly decline of about 0.47%, while Dongre’s quoted comment says 0.67%.
- Sensex weekly close
- 77,540.83, down nearly 0.60% for the week.
- Nifty support and resistance
- Immediate support is 23,900–24,000; immediate resistance is 24,500–24,600.
- Bank Nifty levels
- Support is around 56,000–56,300, while resistance is 58,000–58,500.
- JSW Steel recommendation
- Buy at ₹1,285–1,295; target ₹1,345; stop loss ₹1,265.
- Computer Age Management Services recommendation
- Buy at ₹450–455; target ₹470; stop loss ₹435.
- RVNL recommendation
- Buy at ₹225–228; target ₹240; stop loss ₹218.
Quotes
Ganesh Dongre
Senior Manager of Technical Research at Anand Rathi
“From a trading perspective, we continue to favour a buy-on-dips strategy, as meaningful declines are likely to attract buying interest as long as the broader support structure remains intact.”
livemint.com
“Overall, both the Nifty and Bank Nifty continue to maintain a positive medium-term technical structure, despite the recent profit booking and sideways consolidation.”
livemint.com
Sources
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